Cost Estimates; Ceiling Amount Clause Samples
The "Cost Estimates; Ceiling Amount" clause sets a maximum financial limit for a contract or project, ensuring that expenditures do not exceed a predetermined ceiling. In practice, this clause requires the contractor or service provider to monitor costs closely and notify the client if expenses approach the ceiling amount, often prohibiting further work or billing beyond this limit without prior approval. Its core function is to control budget overruns and allocate financial risk, providing both parties with clarity and predictability regarding the project's total cost.
Cost Estimates; Ceiling Amount. (a) An estimate of the cost of the Services payable in foreign currency is set forth in Appendix D. An estimate of the cost of the Services payable in local currency is set forth in Appendix E.
(b) Except as may be otherwise agreed under Clause GC 2.6 and subject to Clause GC 6.1(c), payments under this Contract shall not exceed the ceilings in foreign currency and in local currency specified in the SC.
(c) Notwithstanding Clause GC 6.1(b) hereof, if pursuant to any of the Clauses GC 5.3, 5.4 or 5.6 hereof, the Parties shall agree that additional payments in local and/or foreign currency, as the case may be, shall be made to the Consultant in order to cover any necessary additional expenditures not envisaged in the cost estimates referred to in Clause GC 6.1(a) above, the ceiling or ceilings, as the case may be, set forth in Clause GC 6.1(b) above shall be increased by the amount or amounts, as the case may be, of any such additional payments.
Cost Estimates; Ceiling Amount. (a) An estimate of the cost of the Services payable is set forth in Appendix G.
(b) Except as may be otherwise agreed under ClauseGC2.6 and subject to Clause GC 6.1(c), payments under this Contract shall not exceed the ceilings specified in the SC. The Consultants shall notify the Client as soon as cumulative charges incurred for the Services have reached 80% of these ceilings.
(c) Notwithstanding ClauseGC6.l (b) hereof, if pursuant to clauses GC5.3, 5.4 or
Cost Estimates; Ceiling Amount. (a) An estimate of the cost of the Services payable in local is set forth in Appendix E.
(b) Except as may be otherwise agreed under Clause GC 2.6 and subject to Clause GC 6.1(c), payments under this Contract shall not exceed the ceilings specified in the SC. The Consultants shall notify the Client as soon as cumulative charges incurred for the Services have reached 80% of either of these ceilings.
(c) Not with standing Clause GC 6.1(b) hereof, if pursuant to clauses GC 5.3, 5.4 hereof, the Parties shall agree that additional payments, shall be made to the Consultants in order to cover any necessary additional expenditures not envisaged in the cost estimates referred to in Clause GC 6.1(a) above, the ceiling or ceilings, as the case may be, set forth in Clause GC 6.1(b) above shall be increased by the amount or amounts, as the case may be, of any such additional payments.
Cost Estimates; Ceiling Amount. (a) An estimate of the cost of the Services payable in local currency is set forth in Appendix D.
(b) Except as may be otherwise agreed Section 3.01(c) and not with standing any other provisions of this Contract, payments under this Contract shall not exceed Rs. billion in local currency. The payments will be made as per schedule at Annexure --- however these would be adjusted on the basis of costs of actual targets achieved.
(c) The amount prescribed in Section 3.01 (b) has been fixed on the understanding that the PHC will make available free of charge to the SRSO the assistance, services and facilities provided for in Article IV. The sums that so accrue will be utilized for programme activities.
Cost Estimates; Ceiling Amount. (a) An estimate of the cost of Services payable in foreign and local currencies is set forth in Appendices D and E respectively. Except as may be otherwise agreed under Sub-Clause 2.5 and subject to Sub- Clause 6.1 (b), payments under this Contract shall not exceed the ceilings in foreign currency in Appendix D and in local currency in Appendix E, excluding adjustments made under Sub-Clause 6.2(a) of the SC. The Consultants shall notify the Client as soon as cumulative charges incurred for the Services have reached 80% of either of these ceilings.
(b) Notwithstanding Sub-Clause 6.1(a) hereof, if pursuant to any of the Sub-Clauses 5.3, 5.4 or 6.6 hereof, the Parties shall agree that additional payments in local and/or foreign currency, as the case may be, shall be made to the Consultants in order to cover any necessary additional expenditures relating to remuneration not envisaged in the cost estimates referred to in Sub-Clause 6.1(a) above, and the ceiling or ceilings, as the case may be, set forth in Sub-Clause 6.1(a) above shall be increased by the amount or amounts, as the case may be, of any such additional payments.
(c) Notwithstanding Sub-Clause 6.1(b) hereof, if pursuant to any of the Sub-Clauses 5.3, 5.4 or 5.6 hereof, the Parties shall agree that additional payments in local and/or foreign currency, as the case may be, shall be made to the Consultants in order to cover any necessary additional expenditures relating to reimbursable direct cost not envisaged in the cost estimates referred to in Sub-Clause 6.1(a) above, the ceiling or ceilings, as the case may be, set forth in Sub-Clause 6.1(b) above shall be increased by the amount or amounts, as the case may be, of any such additional payments.