Contingency Transfers Clause Samples

Contingency Transfers. The Contractor is responsible for initiating requests for, obtaining prior written approvals, managing, and reporting on transfers into and out of Construction Contingency. Prior to initiating any Construction Contingency transfer, the Contractor shall submit a written request for approval to Princeton University. The request shall describe the need for the transfer and identify how the transfer will be accounted for within the GMP. Princeton University will consider the request to determine if the transfer should be made from Construction Contingency or by another means and will not unreasonably withhold or delay its approval or determination. Contractor shall maintain a log of all Construction Contingency transfer requests and shall summarize and include this log with its Monthly Status Reports. Should Contractor dispute Princeton University’s determination with respect to transfer of usage of the Construction Contingency, it shall proceed with such dispute as a Claim as set forth in the Contract Documents.