Contingency Allowance. 4.2.1. The Contract Price includes the contingency allowance, if any, stated in the Contract Documents.
Contingency Allowance. Contractor agrees that a contingency allowance, if any, is for the sole use of City.
Contingency Allowance. Vendors should include a separate contingency allowance line item, calculated as a percentage of the total estimated cost (excluding the contingency allowance itself). The allowance should be within a range of 20-40% as deemed appropriate based on the project's complexity and potential uncertainties. The utilization of the contingency allowance requires prior approval from the requesting entity.
Contingency Allowance. The Contingency allowance of $398,489 is five percent of the amount of uncompleted eligible construction work (estimated to be 91% at the time of the Financial Assistance Agreement). The Municipality or the Commission must obtain CME approval of change orders prior to requesting reimbursement.
Contingency Allowance. 1. Contractor agrees that a contingency allowance, if any, is for the sole use of Owner to cover unanticipated costs.
Contingency Allowance. A station contingency allowance of $1,500.00 per year shall be payable to Bangor Township Fire Fighters in the amount of $125.00 each month.
Contingency Allowance. 1. XXXXXXXXXX agrees that a contingency allowance, if any, is for the sole use of OWNER to cover unanticipated costs.
Contingency Allowance. A $15,000 Contingency Allowance is to be included in the total Quote price for completion of undefined or potential work listed below. Use of the Contingency Allowance is to be solely at the Owner’s discretion. Owner is under no obligation to use the Contingency Allowance. Contractor shall submit a detailed cost breakdown and justification for approval by Owner and Design Engineer prior to proceeding with any Work requiring use of the Contingency Allowance.
Contingency Allowance. A. Any contingency listed in the Schedule of Values (the “Contingency”) may only be utilized by the Owner, in its sole discretion, for any purpose, including, but not limited to covering unanticipated costs in the Work. The Construction Manager shall not be entitled to use the Contingency without the prior written approval of Owner, which may be withheld in its sole discretion. In no event shall the Contingency be used for the Construction Manager’s gross negligence; for costs reasonably recoverable from insurance, subcontractors, supplier or sureties; for funding punch list work; for funding the coordination of subcontractors and other entities; for resolving conflicts in the field; for funding costs incurred as a result of a default on the part of Construction Manager unless Owner approves in writing, or for any other direct costs of performance not approved in writing by Owner. Any Contingency that is not used (the “Contingency Savings”) will accrue 100% to the Owner and shall result in a credit to Owner and result in a reduction towards to the outstanding balance of the Contract Price.
Contingency Allowance. Construction work is complete. Contingency allowance is provided in a financial assistance agreement when construction contract change orders may still need to be financed with the Loan or one or more contract change orders were issued and approved on a project that is complete. Base contingency $0.00 JI Construction LLC CO No. 1 Time Extension CO No. 2 $ (29,840) CO No. 3 3,505 Total Contingency Allowance $ (26,335)
