Common use of EVALUATION OF BUDGET AND COST OF THE WORK Clause in Contracts

EVALUATION OF BUDGET AND COST OF THE WORK. 2.3.1 The Engineer shall prepare a preliminary estimate of the cost of the work. As the design progresses through the end of the preparation of the construction documents, the Engineer shall update and refine the preliminary estimate of the cost of the work. If at any time the Engineer’s estimate of the cost of the work exceeds the Owner’s budget, the Engineer shall immediately notify the Owner in writing and make appropriate recommendations to the Owner to adjust the Project’s size, quality or budget and shall proceed no further without written direction of the Owner. 2.3.2 If the budget for the cost of the work is exceeded by the lowest bona fide bid or negotiated proposal, the Owner shall: .1 give written approval of an increase in the budget for the cost of the work;

EVALUATION OF BUDGET AND COST OF THE WORK. 2.3.1 The Engineer Architect shall prepare a preliminary estimate of the cost of the work. As the design progresses through the end of the preparation of the construction documents, the Engineer Architect shall update and refine the preliminary estimate of the cost of the work. If at any time the EngineerArchitect’s estimate of the cost of the work exceeds the Owner’s budget, the Engineer Architect shall immediately notify the Owner in writing and make appropriate recommendations to the Owner to adjust the Project’s size, quality or budget and shall proceed no further without written direction of the Owner. 2.3.2 If the budget for the cost of the work is exceeded by the lowest bona fide bid or negotiated proposal, the Owner shall: .1 give written approval of an increase in the budget for the cost of the work;