BUDGETING AND FIXED LIMIT OF CONSTRUCTION COST Sample Clauses

BUDGETING AND FIXED LIMIT OF CONSTRUCTION COST. 6.1.1 A Fixed Limit of Construction Cost for the Project shall be established by the Principal Representative incorporating the portion of the Project Budget for all construction of all elements of the Project designed or specified by the Architect/Engineer. The Architect/Engineer shall evaluate the Project Budget and the Fixed Limit of Construction Cost as it pertains to construction of all elements of the Project designed or specified by the Architect/Engineer.
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BUDGETING AND FIXED LIMIT OF CONSTRUCTION COST. 3.3.1 The Construction Manager shall assist the Architect/Engineer in evaluating the Principal Representative's preliminary budget. Based on consultation with the Architect/Engineer and the Construction Manager, the Principal Representative shall furnish a Project Budget to the Construction Manager which shall set forth a dollar amount available for the total Construction Cost of the Project and include contingencies for bidding and construction. 3.3.2 The Fixed Limit of Construction Cost has been established by the Principal Representative, converting the applicable portion of the Project Budget into the Fixed Limit of Construction Cost, as set forth in the recital above. 3.3.3 The Fixed Limit of Construction Cost may be revised only by approved Amendments and Change Orders issued after execution of the Contract Documents.
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BUDGETING AND FIXED LIMIT OF CONSTRUCTION COST. 3.3.1 The Contractor shall assist the Design Consultant in evaluating the Town's preliminary budget. Based on consultation with the Design Consultant and the Contractor, the Town shall furnish a Fixed Limit of Construction Cost to the Contractor which shall set forth a dollar amount available for the total OPCC(s) of the Project and include contingencies for bidding and construction, shared risk contingency pools, force account items, and the CM/GC Management Price Percentage. 3.3.2 The Fixed Limit of Construction Cost may be revised only by approved Amendments.
Sample 1
BUDGETING AND FIXED LIMIT OF CONSTRUCTION COST. 3.3.1 The Design/Build Entity shall provide consultation throughout the Preconstruction and Construction Phases including but not limited to the furnishing of Value Engineering Services to identify cost effective changes in the State's specifications that will result in reducing the Contract Price without impairing essential functions or characteristics. The object of the Value Engineering is to achieve optimum value for each construction dollar spent and keep the time of completion and cost of the Work within the time and fiscal constraints set forth throughout the Contract Documents. In cooperation with the Principal Representative, the Design/Build Entity shall: .1 Formulate and evaluate alternative designs, systems, materials, etc.; .2 Provide cost estimates of the alternatives to be evaluated. Cost estimates shall include industry standard operating and maintenance costs when appropriate to evaluate life-cycle costs of the alternatives. The Design/Build Entity shall review the cost estimate at the completion of the Schematic Design Phase and include an analysis and commentary as to any discrepancies observed in the report referenced in 3.3.1.4 below; .3 Evaluate the alternatives on the basis of costs, time schedules, availability of labor and materials, construction feasibility, etc.; and .4 Prepare written reports at the end of the Schematic Design and Design Development Phases summarizing the Value Engineering activities accomplished and any recommendations developed within each phase. .5 If Estimates of Construction Cost and/or bids received for the Work contained in any Bid Package cause the anticipated cost of the Work to exceed the then current Estimate of Construction Cost, the Fixed Limit of Construction Cost, the Guaranteed Maximum Price or Schedule of Values, the Design/Build Entity shall, at no additional cost to the Principal Representative unless caused by an increase in the Design/Build Entity 's Work requested by the Principal Representative, provide additional Value Engineering services in conjunction with any and all appropriate items in the Estimate of Construction Cost, the Fixed Limit of Construction Cost, the Guaranteed Maximum Price, and/or the Schedule of Values for the Work. .6 Lead in a formal Value Engineering workshop at the end of the Schematic Design review and estimating tasks, bringing multidiscipline cost/construction experts to evaluate alternative designs, systems and materials. .7 Lead a formal Value Engineering work...
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Related to BUDGETING AND FIXED LIMIT OF CONSTRUCTION COST

  • PRE-CONSTRUCTION PHASE FEE The Pre-Construction Phase Fee is the total compensation payable to Contractor for the performance of Pre-Construction Phase Services, except for Additional Pre-Construction Phase Services approved in advance and in writing by Owner. The Pre-Construction Phase Fee shall be a lump sum amount based on the AACC established in this Agreement. 6.1 Except as specifically allowed by Owner, Contractor shall not be entitled to any increase in the Pre-Construction Phase Fee for any costs, expenses, liabilities or other obligations arising from the performance of Pre-Construction Phase Services. 6.2 Costs associated with the following items are specifically, but not exclusively, included in the establishment of the Pre-Construction Phase Fee: profit and profit sharing; general overhead; salaries and labor; housing and relocation; estimating, scheduling and information management systems and software; contract administration; office expenses; printing and copying; consulting fees; legal or accounting fees; cost of money; taxes; insurance premiums and deductibles; bond costs; purchase or rental of equipment; utilities; travel; per diem; fines or penalties; and damage awards. 6.3 If the scope of the Pre-Construction Phase Services is changed materially, the Pre- Construction Phase Fee shall be equitably adjusted. If the AACC is changed materially before acceptance of the GMP Proposal, the Pre-Construction Phase Fee shall be adjusted in writing in proportion to the change in the AACC. There shall be no adjustments in the Pre-Construction Phase Fee following acceptance of the GMP Proposal. 6.4 For Additional Pre-Construction Phase Services that are approved in advance and in writing by Owner, Contractor shall be entitled to additional compensation computed as follows: 6.4.1 A pre-established lump sum amount; or 6.4.2 The hourly cost of Contractor’s employees or consultants who actually perform the Additional Services based on the employee’s Worker Wage Rate or prorated Monthly Rate plus the actual cost of allowable expenses incurred in the performance of the Additional Pre-Construction Phase Services, plus an overhead and profit markup of ten percent (10%) of the total cost; or 6.4.3 As otherwise agreed in advance and in writing.

  • Pre-Construction Phase Employer’s Liability, Workers’ Compensation, Comprehensive General Liability and Comprehensive Automobile Liability in the amounts as set forth in the UGSC.

  • Governing Law; Construction This Agreement and any claim, counterclaim or dispute of any kind or nature whatsoever arising out of or in any way relating to this Agreement (“Claim”), directly or indirectly, shall be governed by, and construed in accordance with, the laws of the State of New York. The section headings in this Agreement have been inserted as a matter of convenience of reference and are not a part of this Agreement.

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