Kuye Olusegun

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FACILITIES MANAGEMENT

Facilities management, commonly abbreviated as FM in the literature, has been variously defined by many individuals and organisations over the years, reflecting its evolution, different perspectives, and the widening scope of its roles. The definitions of FM, which aid the understanding and reveal the nature of the field, are chronologically…
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FACILITIES

In Olusegun (2015), ‘Facilities’ is variously described as: • those items that supports people in the organisation in their endeavours to achieve business goals and they are the tools which people...
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EXPRESSION OF INTEREST (EOI)

Expression of interest is a call to potential providers of goods and/or services to register interest in supplying them. EOI describes requirements or specifications and seeking information from potential providers that demonstrate their ability to meet those requirements.
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EXPERT WITNESS

An expert is a person with a high degree of knowledge or skill in a particular field. An expert is a specialist who has special skill or knowledge in a particular subject, such as a science or art, whether acquired by experience or study. An expert is someone widely recognised…
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EXPERT versus SPECIALIST

An expert differs from the specialist in that a specialist has to be able to solve a problem but an expert has to know its solution. The opposite of an expert is generally known as a layperson, while someone who occupies a middle grade of understanding is generally known as…
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ESCROW ACCOUNTS AND RESERVES

In order for the owner to prepare for significant capital expenditures, it is common to establish an escrow or reserve account. An escrow or reserve account enables the owner to prepare financially for large expenditures by regularly putting aside smaller amounts in a separate bank account (i.e. monthly or yearly).
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EQUITY OF REDEMPTION

It is a right of a mortgagor to recover the pledged property after settling the mortgage debt. It is thus an equitable interest in land itself, and it denotes the sum total of the mortgagor’s right in the property. Equity recognises this fact and regards the mortgagor as owner of…
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