Estimates of Construction Cost. The Construction Manager, in preparing its Estimates of Constitution Cost and providing the Guaranteed Maximum Price, shall consult with the Architect/Engineer to determine what materials, equipment, component systems and types of construction are to be included in the Contract Documents, to make reasonable adjustments in the scope of the Work, and to include in the Contract Documents alternate items, as approved by the Principal Representative in writing, for bid so as to permit the adjustment of the Estimate of Construction Cost.
Estimates of Construction Cost. 2.10.1 Neither the Architect nor the Board have control over the cost of labour, materials, or equipment, over the Contractor's me- thods of determining bid prices, or over competitive bidding, market, or negotiating conditions and therefore, the Architect cannot warrant or represent that bids or negotiated prices will not vary from the Final Estimate as established by the Archi- tect and approved by the Board, or the estimate of Construction Cost.
2.10.2 It is understood and agreed, therefore, that the Architect shall submit total construction estimates of cost, at sketch plan ap- proval stage, and working drawing stage. When the drawings and specifications have been completed and are ready for ten- der, the Architect shall produce a Final Estimate. All estimates must be approved by the Board prior to the Archi- tect proceeding with the next phase of the Work.
2.10.3 If the lowest bona fide bid or lowest negotiated proposal ex- ceeds the Final Estimate by more than 10% prepared as set out in paragraph 2.4.4 (unless the Project has been abandoned or terminated in accordance with paragraph 3.8,) the Architect shall modify, at no additional fee, the drawings and specifica- tions, or provide other services as necessary to reduce the Construction Cost to within 10% of the Final Estimate. The providing of such services shall be the limit of the Architect's responsibility, and having done so, the Architect shall be en- titled to compensation for all other services performed, in accordance with the Agreement, whether or not the construc- tion phase is commenced.
Estimates of Construction Cost. Design Professional shall prepare and deliver estimates of construction cost to accompany and correlate to the then current design submittals provided to the University at the close of both the Preliminary Phase and the Construction Documents Phase of services. The following shall apply to such estimates: The estimates shall be referenced to the Construction Cost Index for the county the Project is located at, as published by the Engineering News Record. These estimates shall, at each Phase, define the then current Estimated Project Construction Cost. Throughout the Project, the Design Professional shall keep the Estimated Project Construction Cost within the Construction Budget. If the Estimated Project Construction Cost exceeds the Construction Budget, University shall either approve a higher Construction Budget or shall authorize Design Professional to revise its Designs And Documents, including by making changes to the scope, type and/or quality of construction, so that the cost of construction for the Project is within the Construction Budget. Such revisions shall be made by Design Professional at no additional cost to University.
Estimates of Construction Cost
