Construction Cost Estimate. Construction Cost Estimates are detailed estimates prepared by or on behalf of the Design Professional of the then current costs of labor, materials, equipment and services plus a reasonable allowance for the Contractor’s profit, overhead and administrative costs as necessary to complete construction of the Project in accordance with the Design Documents. Construction Cost Estimates shall include a reasonable allowance for contingencies relating to market conditions at the time of solicitation of Contractor bids for the Work of the Project and shall accurately estimate the full value of the Project scope included in the Project Construction Budget.
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Samples: Master Design Professional Agreement, Master Agreement, Master Design Professional Agreement
Construction Cost Estimate. Construction Cost Estimates are detailed estimates prepared by or on behalf of the Design Professional Architect of the then current costs of labor, materials, equipment and services plus a reasonable allowance for the Contractor’s profit, overhead and administrative costs cost as necessary to complete construction of the Project in accordance with the Design Documents. Construction Cost Estimates shall include a reasonable allowance for contingencies relating to market conditions at the time of solicitation of Contractor bids for the Work of the Project and shall accurately estimate Changes in the full value Work during construction of the Project scope included Project; the allowance for contingency costs shall be consistent with the contingency established by the District in the Project Construction Budget, if any.
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