2Itemized Breakdown of Change Order Costs Sample Clauses

2Itemized Breakdown of Change Order Costs. As a condition to Owner’s approval of an increase in the Contract Sum, CM/GC shall include an itemized breakdown of the change in Contract Sum which lists the estimated Allowable Change Order Costs in the form prescribed by Owner. In addition, CM/GC shall identify the amount of any cost savings that result from a proposed Change Order. The breakdown is submitted to allow Design Professional and Owner to make a judgment on the dollar amount of the adjustment in the Contract Sum but shall not be incorporated into the Change Order. For a Change Order payable by lump sum (“Lump Sum Change Order”), upon acceptance by the Owner, the agreed Change Order Sum shall be the lump sum, and CM/GC shall be paid the Change Order Sum upon completion of the Change Order Work without the need to submit back-up proving the actual costs incurred. CM/GC shall also furnish detailed documentation of the breakdown, which shall include a separate breakdown for each Trade Contractor’s estimated charges that has been prepared by each Trade Contractor and submitted on the letterhead of the Trade Contractor or via electronic mail from the Trade Contractor. The breakdown shall be accompanied by the following declaration: I do solemnly swear to the best of my knowledge, information, and belief, that the costs shown hereinabove do not exceed current costs for like services or materials in the locality of the Project and, in the case of a Force Account, the costs represented do not exceed the actual costs to CM/GC; and that the quantities shown do not exceed actual requirements.
Sample 1
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Related to 2Itemized Breakdown of Change Order Costs

  • For Lump Sum Change Order The payment and extension of time (if any) provided by this Change Order constitutes compensation in full to the Contractor and its Subcontractors and Suppliers for all costs and markups directly and indirectly attributable to the Change Order herein, for all delays related thereto and for performance of changes within the time stated.

  • Change Orders Any alteration or deviation from the Services mentioned or any other contractual specifications that result in a revision of this Agreement shall be executed and attached to this Agreement as a change order (“Change Order”).

  • Change Order (5) The Change Order is then submitted to the Project Manager who immediately processes the CO with OPC as required by Bulletin 3.5 and BGS’ Contracting Plan.

  • Change Order Formats Formats for Lump Sum Change Orders and for Change Orders based upon either a force account or upon unit pricing with an indeterminate number of units are in Section 7, Forms.

  • Recovery Schedule If the initial schedule or any current updates fail to reflect the Work’s actual plan or method of operation, or a contractual milestone date is more than fifteen (15) days behind, Owner may require that a recovery schedule for completion of the remaining Work be submitted. The Recovery Schedule must be submitted within seven (7) calendar days of Owner’s request. The Recovery Schedule shall describe in detail Construction Contractor’s plan to complete the remaining Work by the required Contract milestone date. The Recovery Schedule submitted shall meet the same requirements as the original Construction Schedule. The narrative submitted with the Recovery Schedule should describe in detail all changes that have been made to meet the Contract milestone dates.

  • Execution of Change Orders Change Orders shall be signed by the Contractor, ordinarily certified by the Design Professional, and approved by the Owner in accordance with the form of Change Order prescribed by the Owner. No request for payment by the Contractor for a Change Order shall be due, nor shall any such request appear on an Application for Payment, until the Change Order is executed by the Owner. In the event of emergency (see Article 1.4.4) or significant impact to the Overall Project Schedule, the Owner shall direct the Change Order to proceed upon a Force Account until the cost and time is resolved in the manner set forth in Paragraph 3.2.7.3 below.

  • Change Order Procedure The Agency may at any time request a modification to the Scope of Work using a change order. The following procedures for a change order shall be followed:

  • Cost Breakdown When the Modification is proposed, the Contractor shall furnish a complete breakdown of actual costs of both credits and extras, itemizing materials, labor, taxes, overhead and profit. Subcontract work shall be so indicated. All costs must be fully documented. The following limitations shall apply:

  • Change Order Conditions All Change Orders are issued under the following conditions and shall contain the following language as appropriate:

  • Direct Costs Insert the major cost elements. For each element, consider the application of the paragraph entitled “Costs Requiring Prior Approval” on page 1 of these instructions.

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