Common use of Contractor’s Contingency Clause in Contracts

Contractor’s Contingency. 11.3.1 The Guaranteed Maximum Price Proposal shall include a Contractor’s Contingency amount to be used to fund increases in the Direct Construction Cost of the Project identified through the refinement, development and completion of the Construction Documents or procurement of the Work. 11.3.2 Any re-allocation of funds from Contractor’s Contingency to cover increases in the Direct Construction Cost must be approved by Owner in advance and in writing, such approval not to be unreasonably withheld. In written requests to use Contractor’s Contingency, Contractor shall provide detailed documentation of the scope of work affected and the bases for any increases in costs. 11.3.3 Contractor’s Contingency is specifically not to be used for Contractor rework, or cost increases caused by lack of coordination or communication with A/E or trade Subcontractors. 11.3.4 As the Construction Documents are finalized and the buyout of the Work progresses, Contractor’s Contingency amount shall be reduced by mutual agreement of Owner and Contractor. Any balance in Contractor’s Contingency fund remaining at the end of the Project shall be returned to Owner as savings.

Contractor’s Contingency. 11.3.1 The Guaranteed Maximum Price Proposal shall include a Contractor’s Contingency amount to be used to fund increases in the Direct Construction Cost of the Project identified through the refinement, development and completion of the Construction Documents or procurement of the Work. 11.3.2 Any re-allocation of funds from Contractor’s Contingency to cover increases in the Direct Construction Cost must be submitted through e-Builder® and approved by Owner in advance and in writingadvance, such approval not to be unreasonably withheld. In written requests to use Contractor’s Contingency, Contractor shall provide detailed documentation of the scope of work affected and the bases basis for any increases in costs. 11.3.3 Contractor’s Contingency is specifically not to be used for Contractor rework, or cost increases caused by lack of coordination or communication with A/E or trade Subcontractors. 11.3.4 As the Construction Documents are finalized and the buyout of the Work progresses, Contractor’s Contingency amount shall be reduced by mutual agreement of Owner and Contractor. Any balance in Contractor’s Contingency fund remaining at the end of the Project shall be returned to Owner as savings.

Contractor’s Contingency. 11.3.1 The Guaranteed Maximum Price Proposal shall include a Contractor’s Contingency amount to be used to fund increases in the Direct Construction Cost of the Project identified through the refinement, development and completion of the Construction Documents or procurement of the Work. 11.3.2 Any re-allocation of funds from Contractor’s Contingency to cover increases in the Direct Construction Cost must be approved by Owner in advance and in writing, such approval not to be unreasonably withheld. In written requests to use Contractor’s Contingency, Contractor shall provide detailed documentation of the scope of work affected and the bases for any increases in costs. 11.3.3 Contractor’s Contingency is specifically not to be used for Contractor rework, or cost increases caused by lack of coordination or communication with A/E or trade Subcontractors. 11.3.4 As the Construction Documents are finalized and the buyout of the Work progresses, Contractor’s Contingency amount shall be reduced by mutual agreement of Owner and Contractor. Any balance in Contractor’s Contingency fund remaining at the end of the Project shall be returned to Owner as savings.

Contractor’s Contingency. 11.3.1 The Guaranteed Maximum Price Proposal shall include a Contractor’s Contingency amount to be used to fund increases in the Direct Construction Cost of the Project identified through the refinement, development and completion of the Construction Documents or procurement of the Work. 11.3.2 Any re-allocation of funds from Contractor’s Contingency to cover increases in the Direct Construction Cost must be submitted through e-Builder® and approved by Owner in advance and in writingadvance, such approval not to be unreasonably withheld. In written requests to use Contractor’s Contingency, Contractor shall provide detailed documentation of the scope of work affected and the bases basis for any increases in costs. 11.3.3 Contractor’s Contingency is specifically not to be used for Contractor rework, or cost increases caused by lack of coordination or communication with A/E or trade Subcontractors. 11.3.4 As the Construction Documents are finalized and the buyout of the Work progresses, Contractor’s Contingency amount shall be reduced by mutual agreement of Owner and Contractor. Any balance in Contractor’s Contingency fund remaining at the end of the Project shall be returned to Owner as savings.

Contractor’s Contingency. 11.3.1 The Guaranteed Maximum Price Proposal shall include a Contractor’s Contingency amount to be used to fund increases in the Direct Construction Cost of the Project identified through the refinement, development and completion of the Construction Documents or procurement of the Work. 11.3.2 Any re-allocation of funds from Contractor’s Contingency to cover increases in the Direct Construction Cost must be approved by Owner City in advance and in writing, such approval not to be unreasonably withheld. In written requests to use Contractor’s Contingency, Contractor shall provide detailed documentation of the scope of work affected and the bases for any increases in costs. 11.3.3 Contractor’s Contingency is specifically not to be used for Contractor rework, or cost increases caused by lack of coordination or communication with A/E or trade Subcontractors. 11.3.4 As the Construction Documents are finalized and the buyout of the Work progresses, Contractor’s Contingency amount shall be reduced by mutual agreement of Owner City and Contractor. Any balance in Contractor’s Contingency fund remaining at the end of the Project shall be returned to Owner City as savings.