Common use of Cost Breakdown and Periodic Estimates Clause in Contracts

Cost Breakdown and Periodic Estimates. A. On forms approved by DISTRICT, CONTRACTOR shall furnish the following: 1. A detailed estimate giving a complete breakdown of the Contract price for each Project or site within 10 days of award of the Contract. CONTRACTOR shall furnish a detailed Cost Breakdown (Schedule of Values) of the Contract Price consistent with the cost-loaded work activities included in the approved construction schedule per school site, if award is for multiple sites. In preparing the Cost Breakdown, CONTRACTOR shall carefully list the true cost of each activity or item for which payment will be requested. The CONTRACTOR shall not “front-load” the Cost Breakdown with false dollar amounts for activities to be performed in the early stages of the Project. The DISTRICT may, in its sole discretion, utilize the costs listed in the Cost Breakdown (Schedule of Values) as the true cost of items to be deducted from the Contract Price through credit or deductive change order. The values for each line item shall include the amount of overhead and profit applicable to each item of work and shall include, at a minimum, a breakdown between rough and finish Work for the basic trades as well as individual dollars figures for large dollar equipment and materials to be installed or furnished for the Project. No individual line item or scope of work in the Cost Breakdown shall exceed $50,000, except with the express, written consent of the DISTRICT. Exceptions will be given by the DISTRICT for a single item of equipment for which the true cost exceeds $50,000. The Cost Breakdown shall be subject to the DISTRICT's review and approval of the form and content thereof. Upon request, CONTRACTOR shall provide DISTRICT with data and documentation substantiating the accuracy of the proposed line items. In the event that the DISTRICT shall reasonably object to any portion of the Cost Breakdown, within ten (10) days of the DISTRICT's receipt of the Cost Breakdown, the DISTRICT shall notify the CONTRACTOR, in writing of the DISTRICT's objection(s) to the Cost Breakdown together with any request for substantiating data or documentation. Within five (5) days of the date of the DISTRICT's written objection(s) and request for substantiating data and documentation, CONTRACTOR shall submit a revised Cost Breakdown to the DISTRICT for review and approval together with the requested data and documentation. The foregoing procedure for the preparation, review and approval of the Cost Breakdown shall continue until the DISTRICT has approved of the entirety of the Cost Breakdown. Once the Cost Breakdown is approved by the DISTRICT, the Cost Breakdown shall not be thereafter modified or amended by the CONTRACTOR without the prior consent and approval of the DISTRICT, which may be granted or withheld in the sole reasonable discretion of the DISTRICT. Notwithstanding any provision of the Contract Documents to the contrary, payment of the CONTRACTOR's overhead, supervision and general conditions costs and profit, as such items are reflected in the Cost Breakdown, shall be made incrementally as included in the activities included in the approved construction schedule. 2. A periodic itemized estimate of work done for the purpose of making partial payments; and

Cost Breakdown and Periodic Estimates. A. On forms approved by DISTRICT, CONTRACTOR shall furnish the following: 1. A detailed estimate giving a complete breakdown of the Contract price for each Project or site within 10 days of award of the Contract. CONTRACTOR shall furnish a detailed Cost Breakdown (Schedule of Values) of the Contract Price consistent with the cost-loaded work activities included in the approved construction schedule per school site, if award is for multiple sitesschedule. In preparing the Cost Breakdown, CONTRACTOR shall carefully list the true cost of each activity or item for which payment will be requested. The CONTRACTOR shall not “front-front- load” the Cost Breakdown with false dollar amounts for activities to be performed in the early stages of the Project. The DISTRICT may, in its sole discretion, utilize the costs listed in the Cost Breakdown (Schedule of Values) as the true cost of items to be deducted from the Contract Price through credit or deductive change order. The values for each line item shall include the amount of overhead and profit applicable to each item of work and shall include, at a minimum, a breakdown between rough and finish Work for the basic trades as well as individual dollars figures for large dollar equipment and materials to be installed or furnished for the Project. No individual line item or scope of work in the Cost Breakdown shall exceed $50,000, except with the express, written consent of the DISTRICT. Exceptions will be given by the DISTRICT for a single item of equipment for which the true cost exceeds $50,000. The Cost Breakdown shall be subject to the DISTRICT's review and approval of the form and content thereof. Upon request, CONTRACTOR shall provide DISTRICT with data and documentation substantiating the accuracy of the proposed line items. In the event that the DISTRICT shall reasonably object to any portion of the Cost Breakdown, within ten (10) days of the DISTRICT's receipt of the Cost Breakdown, the DISTRICT shall notify the CONTRACTOR, in writing of the DISTRICT's objection(s) to the Cost Breakdown together with any request for substantiating data or documentation. Within five (5) days of the date of the DISTRICT's written objection(s) and request for substantiating data and documentation, CONTRACTOR shall submit a revised Cost Breakdown to the DISTRICT for review and approval together with the requested data and documentation. The foregoing procedure for the preparation, review and approval of the Cost Breakdown shall continue until the DISTRICT has approved of the entirety of the Cost Breakdown. Once the Cost Breakdown is approved by the DISTRICT, the Cost Breakdown shall not be thereafter modified or amended by the CONTRACTOR without the prior consent and approval of the DISTRICT, which may be granted or withheld in the sole reasonable discretion of the DISTRICT. Notwithstanding any provision of the Contract Documents to the contrary, payment of the CONTRACTOR's overhead, supervision and general conditions costs and profit, as such items are reflected in the Cost Breakdown, shall be made incrementally as included in the activities included in the approved construction schedule. 2. A periodic itemized estimate of work done for the purpose of making partial payments; and