Common use of Contract Price or GMP Schedule of Values Clause in Contracts

Contract Price or GMP Schedule of Values. Contractor shall submit a single document itemizing the breakdown of the Contract price or GMP, including general conditions, contingencies and allowances using the Owner Standard Schedule of Values format. The Contractor shall submit a draft breakdown at least twenty-one (21) days prior to the initial Application for Payment and such submittal shall be a condition precedent to the processing of the first payment application. The Contractor shall submit subsequent draft copies of the Schedule of Values at least seven (7) days prior to formal submission of each monthly payment.

Contract Price or GMP Schedule of Values. Contractor shall submit a single document itemizing the breakdown of the Contract price or Price/GMP, including general conditions, contingencies and allowances using the Owner Standard Schedule of Values format. The Contractor shall submit a draft breakdown at least twenty-one (21) calendar days prior to the initial Application for Payment and such submittal shall be a condition precedent to the processing of the first payment application. The Contractor shall submit subsequent draft copies of the Schedule of Values at least seven (7) calendar days prior to formal submission of each monthly payment.