Final Cost Proposal. The contract FCP must contain a schedule of all specified rates with their associated types of labor and any direct costs. It must also clearly identify the circumstance that will cause a payment to become due.
Final Cost Proposal. The contract FCP must contain rates that are established at the time of the contract. One or more of the following methods must be used. First, the contract FCP may identify specified rates and direct costs that will be used later to build lump sums. Second, the contract FCP may identify unit costs and direct costs that will be used later to build lump sums. Third, the contract FCP may identify future work authorizations and corresponding lump sums. A work authorization may have more than one lump sum if each is associated with a distinct deliverable or group of deliverables. If lump sum work authorizations will be used, the contract FCP must contain detailed and negotiated unit costs or specified rates so that the lump sum for future work authorizations can be calculated with certainty on the basis of cost figures contained in the contract FCP, or it must contain a schedule of future work authorizations with their associated lump sums. Lump sum work authorizations may not be calculated on the basis of actual labor rates, overhead rates, fee, or direct costs because actual costs are not audited or adjusted under a lump sum contract. The basis for lump sums may not be left for negotiation at the time work authorizations are issued. DocuSign Envelope ID: D07A0388-BFA6-4782-A817-F6DF713498D1
Final Cost Proposal. The contract FCP must contain rates that are established at the time of the contract. One or more of the following methods must be used. First, the contract FCP may identify specified rates and direct costs that will be used later to build lump sums. Second, the contract FCP may identify unit costs and direct costs that will be used later to build lump sums. Third, the contract FCP may identify future work authorizations and corresponding lump sums. A work authorization may have more than one lump sum if each is associated with a distinct deliverable or group of deliverables. If lump sum work authorizations will be used, the contract FCP must contain detailed and negotiated unit costs or specified rates so that the lump sum for future work authorizations can be calculated with certainty on the basis of cost figures contained in the contract FCP, or it must contain a schedule of future work authorizations with their associated lump sums. Lump sum work authorizations may not be calculated on the basis of actual labor rates, overhead rates, fee, or direct costs because actual costs are not audited or adjusted under a lump sum contract. The basis for lump sums may not be left for negotiation at the time work authorizations are issued.
Final Cost Proposal. A final estimate of Costs of the Tenant’s Work that are depicted on the Work Drawings, including all architectural, engineering, contractor, and any other costs, and clearly indicating the dollar amount, if any, that is to be paid by Tenant.
Final Cost Proposal. A final estimate of Costs of the Relocation Premises Work that are depicted on the Work Drawings, including all architectural, engineering, contractor, and any other costs, and clearly indicating the dollar amount, if any, that is to be paid by Xxxxxx.
Final Cost Proposal. After Landlord and Tenant meet to evaluate the results of the bid solicitation process described above, Landlord shall calculate and furnish to Tenant a “Cost Proposal” which shall constitute the aggregate of (i) Tenant’s Architect’s Fees (to the extent known by Landlord), (ii) the amounts payable under the subcontracts selected (and, subject to Section 4.3(D) above, where the Approved GC is performing work that would be performed by a subcontractor, the cost of such work) in the bid process and to be set upon approval of the Cost Proposal, broken down by trade (“Direct Costs”), and (iii) the amount of the Approved GC’s fee and indirect costs, as set forth in its RFP Response. The components of the Cost Proposal other than Tenant’s Architect’s Fees shall (subject to Change Orders) be fixed at the rates set forth therein.
Final Cost Proposal. After receipt of the bids, Landlord shall calculate and furnish to Tenant a “Total Costs Notice” which shall constitute the aggregate of (i) the amounts payable under the subcontracts selected (and if and where the Approved GC is performing work that would be performed by a subcontractor, the cost of such work) in the bid process and broken down by trade (“Direct Costs”), (ii) an estimate of the Construction Management Fee (as hereinafter defined), (iii) the amount of the Approved GC’s fee and indirect costs, and (iv) a reasonable construction contingency (not to exceed 3% of the Total Costs Notice amount). Landlord shall charge a construction management fee (the “Construction Management Fee”) for its management of the Tenant Improvement Work in an amount equal to three percent (3%) of the hard construction costs (but not design or other soft costs) in the Total Costs Notice (exclusive of such Construction Management Fee) plus any Change Order Costs. The Construction Management Fee shall be deducted from the Landlord’s Contribution as set forth in Section 1.5 below and/or paid by Tenant as part of Excess Costs as set forth in Section 1.5 below. In connection with the foregoing, Landlord and Tenant agree to use a Guaranteed Maximum Price “GMP” contract for the Tenant Improvement Work. Within seven (7) business days after Landlord’s delivery of the Total Costs Notice, Tenant may either approve the Total Costs Notice or provide changes to the Plans to eliminate or revise one or more scope‑of‑work items included in the Plans and request a revised Total Costs Notice. In the event that Tenant timely and properly requests such revised Total Costs Notice and changes to the Plans, Landlord shall reprice the Plans for purposes of preparing a revised Total Costs Notice. If Tenant fails to deliver either its written approval of, or its written modifications to, any Total Costs Notice within two (2) business days following delivery by Landlord, Tenant shall be deemed to have approved the Total Costs Notice in its entirety. In addition, if Tenant’s request for a revised Total Costs Notice results in (y) the Total Cost Notice not being approved or deemed approved by the Authorization to Proceed Date, or (z) Tenant failing to authorize, in writing, Landlord to commence the performance of the Tenant Improvement Work by the Authorization to Proceed, the same shall be a Tenant Delay without need for any additional notice to Tenant. Tenant acknowledges and agrees that Tenant’...
