Change Order Markup Allowances Sample Clauses
The Change Order Markup Allowances clause defines the permitted percentage or amount that can be added to the cost of work for overhead and profit when a change order is issued. In practice, this clause specifies the markup rates that contractors or subcontractors may apply to additional work, such as labor, materials, or equipment, resulting from changes to the original contract scope. By establishing clear limits on markups, the clause helps prevent disputes over pricing and ensures that all parties have a mutual understanding of allowable costs associated with contract modifications.
POPULAR SAMPLE Copied 8 times
Change Order Markup Allowances. For scope of work increases that result in change orders increasing the GMP, Trade Contractors, or the Construction Manager if self-performing, shall be entitled to a ▇▇▇▇-up of no more than [ENTER PERCENTAGE] on the Cost of Work for the change. This ▇▇▇▇-up shall include all overhead, profit, impact, lost productivity due to the change or any other costs relating to the change. The Construction Manager shall be entitled to a marked-up of no more than. [ENTER PERCENTAGE] on the Cost of Work for scope of work increases that result in change orders increasing the GMP. All lump sum Change Orders shall include any ▇▇▇▇-up. These same ▇▇▇▇-up percentages shall be applied to deductive change orders.
Change Order Markup Allowances. For scope of work increases that result in change orders increasing the GMP, Trade Contractors shall be entitled to a mark-up of no more than XXX Percent (X%) of the Cost of Work for the change. This mark-up shall include all overhead, profit, impact, lost productivity due to the change or any other costs relating to the change. All lump sum Change Orders shall include any mark-up. These same mark-up percentages shall be applied to deductive change orders. The Construction Manager shall be entitled to a mark-up of no more than XXX Percent (XXX%) on the Cost of Work for any self-performed increases to the scope of work either directly to the University or as a sub-contractor at any tier. The Construction Manager shall be entitled to the Construction Manager’s Overhead and Profit, as defined in Section 4.01.3 and 3.03.4.2, on any change order increasing the GMP and shall provide a corresponding reduction in the Construction Manager’s Overhead and profit for any deductive change orders.
Change Order Markup Allowances. For scope of work increases that result in change orders increasing the GMP, Trade Contractors shall be entitled to a mark-up of no more than Ten Percent (10%) of the Cost of Work for the change. This mark-up shall include all overhead, profit, impact, lost productivity due to the change or any other costs relating to the change. All lump sum Change Orders shall include any mark-up. These same mark-up percentages shall be applied to deductive change orders. The Construction Manager shall not be entitled to any mark-up on the Cost of Work for any self- performed increases to the scope of work either directly to the University or as a sub-contractor at any tier. The Construction Manager shall be entitled to the Construction Manager’s Overhead and Profit, as defined in Section 4.01.3 and 3.03.4.2, on any change order increasing the GMP and shall provide a corresponding reduction in the Construction Manager’s Overhead and profit for any deductive change orders.