Common use of Labor and Material Markup Rates Clause in Contracts

Labor and Material Markup Rates. The Contractor agrees to provide a percent markup rate for labor, designated as the ‘Labor Markup Rate’ and a percent markup rate for materials, designated as the ‘Materials Markup Rate’ for the assessment of value of Corrective Maintenance, and for the performance of Major Corrective Maintenance repairs. For labor the percent markups will be offered over the then-current New York State prevailing wage rates plus supplemental benefits in the county in which the work is performed for Elevator Mechanics and Helpers, and the prevailing wage rates and supplemental benefits paid will be the current rates listed for the date the work is performed in the county in which the work is performed: The Labor Markup Rate shall include all costs (such as salary payments in excess of the prevailing wage rate, benefits, overhead, profit, training, recruitment, etc.) and no additional compensation will be allowed in addition to the Labor Markup Rate bid. For materials, the percent markup will be offered over the actual cost of the materials used in the work. The Materials Markup Rate shall include all costs (such as overhead, profit, etc.) and no additional compensation will be allowed in addition to the markup bid. Cost of Materials When procuring materials for Major Corrective Maintenance work, the following guidelines shall apply:

Labor and Material Markup Rates. The Contractor agrees to provide a percent markup rate for labor, designated as the ‘Labor Markup Rate’ and a percent markup rate for materials, designated as the ‘Materials Markup Rate’ for the assessment of value of Corrective Maintenance, and for the performance of Major Corrective Maintenance repairs. For labor the percent markups will be offered over the then-current New York State prevailing wage rates plus supplemental benefits in the county in which the work is performed for Elevator Mechanics and Helpers, and the prevailing wage rates and supplemental benefits paid will be the current rates listed for the date the work is performed in the county in which the work is performed: The Labor Markup Rate shall include all costs (such as salary payments in excess of the prevailing wage rate, benefits, overhead, profit, training, recruitment, etc.) and no additional compensation will be allowed in addition to the Labor Markup Rate bid. For materials, the percent markup will be offered over the actual cost of the materials used in the work. The Materials Markup Rate shall include all costs (such as overhead, profit, etc.) and no additional compensation will be allowed in addition to the markup bid. Cost of Materials When procuring materials for Major Corrective Maintenance work, the following guidelines shall apply:.