Construction Cost Estimate. The Class B Construction Cost Estimate is an estimate of the Construction Cost with a level of precision that is based on the degree of completion of the Contract Documents at the time of preparation of the estimate. The Class B Construction Cost Estimate is typically prepared when all site or installation investigations are completed and the design of the major systems and sub-systems of the Project (including outline specifications and preliminary drawings and models) are well underway. Class B Construction Cost Estimate shall be presented in elemental format and include labour and material costs, allowance for all costs resulting from the Project schedule, all actual associated costs, including cash allowances, contingencies, allowances for design, escalation, market conditions and anticipated amendment amounts as applicable.
Appears in 5 contracts
Samples: Appendix Stipulated Price Option, Appendix Stipulated Price Option, Appendix Stipulated Price Option
