Common use of Contractor's Fee for Overhead and Profit Clause in Contracts

Contractor's Fee for Overhead and Profit. Contractor's fee for overhead and profit shall be determined as follows: 17.1.1.3.1 A mutually acceptable fixed fee; or 17.1.1.3.2 If a fixed fee is not agreed upon, then the Contractor’s Fee for Overhead and Profit shall be based upon the schedule provided in the paragraphs below: .1 For the contractor, for work performed by the contractor's own forces, a maximum of, five (5%) percent of the cost. .2 For the contractor, for work performed by the contractor's subcontractor, a maximum of, five (5%) percent of the amount due the subcontractor. .3 For each subcontractor or subcontractor involved, for work performed by the subcontractor's or sub-subcontractor's own forces, a maximum of, five (5%) percent of the cost. .4 For each Subcontractor, for Work performed by the Subcontractor's Sub-subcontractors, a maximum of, five percent (5%) of the amount due the Subcontractor. .5 Cost to which overhead and profit is to be applied shall be determined in accordance with the paragraph below. .6 In order to facilitate checking of quotations for extras or credits, all proposals, except those so minor that their propriety can be seen by inspection, shall be accompanied by a complete itemization of costs including labor, materials and subcontracts. Labor and materials shall be itemized in the manner prescribed above. Where major cost items are subcontracts, they shall be itemized also. In no case will a change involving over $500.00 be approved without such itemization. .7 Under no circumstances shall the total mark up to the Owner exceed ten (10%) percent of the cost.

Contractor's Fee for Overhead and Profit. Contractor's fee for overhead and profit shall be determined as follows: 17.1.1.3.1 A mutually acceptable fixed fee; or 17.1.1.3.2 If a fixed fee is not agreed upon, then the Contractor’s Fee for Overhead and Profit shall be based upon the schedule provided in the paragraphs below: .1 For the contractor, for work performed by the contractor's own forces, a maximum of, five (5%) percent of the cost. .2 For the contractor, for work performed by the contractor's subcontractor, a maximum of, five (5%) percent of the amount due the subcontractor. .3 For each subcontractor or subcontractor involved, for work performed by the subcontractor's or sub-subcontractorsub‐subcontractor's own forces, a maximum of, five (5%) percent of the cost. .4 For each Subcontractor, for Work performed by the Subcontractor's Sub-subcontractorsSub‐subcontractors, a maximum of, five percent (5%) of the amount due the Subcontractor. .5 Cost to which overhead and profit is to be applied shall be determined in accordance with the paragraph below. .6 In order to facilitate checking of quotations for extras or credits, all proposals, except those so minor that their propriety can be seen by inspection, shall be accompanied by a complete itemization of costs including labor, materials and subcontracts. Labor and materials shall be itemized in the manner prescribed above. Where major cost items are subcontracts, they shall be itemized also. In no case will a change involving over $500.00 be approved without such itemization. .7 Under no circumstances shall the total mark up to the Owner exceed ten (10%) percent of the cost.

Contractor's Fee for Overhead and Profit. Contractor's fee for overhead and profit shall be determined as follows: 17.1.1.3.1 A mutually acceptable fixed fee; or 17.1.1.3.2 If a fixed fee is not agreed upon, then the Contractor’s Fee for Overhead and Profit shall be based upon the schedule provided in the paragraphs below: .1 For the contractor, for work performed by the contractor's own forces, a maximum of, five (5%) percent of the cost. .2 For the contractor, for work performed by the contractor's subcontractor, a maximum of, five (5%) percent of the amount due the subcontractor. .3 For each subcontractor or subcontractor involved, for work performed by the subcontractor's or sub-sub- subcontractor's own forces, a maximum of, five (5%) percent of the cost. .4 For each Subcontractor, for Work performed by the Subcontractor's Sub-subcontractors, a maximum of, five percent (5%) of the amount due the Subcontractor. .5 Cost to which overhead and profit is to be applied shall be determined in accordance with the paragraph below. .6 In order to facilitate checking of quotations for extras or credits, all proposals, except those so minor that their propriety can be seen by inspection, shall be accompanied by a complete itemization of costs including labor, materials and subcontracts. Labor and materials shall be itemized in the manner prescribed above. Where major cost items are subcontracts, they shall be itemized also. In no case will a change involving over $500.00 be approved without such itemization. .7 Under no circumstances shall the total mark up to the Owner exceed ten (10%) percent of the cost.