Common use of Design Build Entity Clause in Contracts

Design Build Entity. s use of Project Contingency shall be documented by a separate accounting accompanying Design Build Entity’s monthly Application for Payment and not solely as a line item in any Schedule of Values. The accounting shall include documentation and information in the level of detail required by the Contract Documents, including, without limitation: (i) a description of the Construction Work for which Project Contingency was used; (ii) a breakdown of the costs of Project Contingency use; and (iii) an itemization of the amount used and an accounting of the Project Contingency balance.