Amount of Compensation for Services of Inspection Company Sample Clauses

Amount of Compensation for Services of Inspection Company. All Inspection services will be billed at a rate of $ regular time, $ per hour overtime, and $ per hour for Sunday and Holiday time, for a Guaranteed Maximum Price (“GMP”) of Dollars and cents ($ ). Inspection Company will submit a worksheet for each project, which shall include the GMP amount plus an itemization of requested reimbursable expenses (the “GMP worksheet”). Upon acceptance of the GMP worksheet, District will provide written notification to Inspection Company. 1.1 Inspection Company shall be paid for its Services (and for services of its Subconsultants) rendered based upon the hourly “Billing Rates” as agreed upon between district and Inspection Company. 1.2 The Billing Rates used as a basis for payment apply to all of Inspection Company’s and subconsultants’ principals, professional personnel and others engaged directly in inspection services on the Project. The Billing Rates shall remain constant throughout this Agreement, and shall not be adjusted for inflation, salary adjustments, cost changes, or any other reason. 1.3 Inspection Company may not invoice or receive payment for the GMP greater than Inspection Company’s percentage completion of the Services, as determined by District based on Services performed. In no event shall Inspection Company invoice or receive (including Subconsultants services) payment for fees exceeding the GMP or for reimbursement for expenses other than “Reimbursable Expenses Related to Additional Services” or “Reimbursable Expenses” as defined in Section 3 below. 1.4 The final three percent (3%) of the GMP for inspection services on any Project shall not be released by District to Inspection Company unless and until the Inspection Company has submitted all required verified reports to the Division of State Architect as required under Title 24, Part 1, Section 4-336 of the California Code of Regulations as now existing or as it may be amended or modified.
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Related to Amount of Compensation for Services of Inspection Company

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