Lump Sum Fixed Fee Clause Samples
A Lump Sum Fixed Fee clause establishes a predetermined, unchanging total payment for a specific scope of work or project, regardless of the actual costs incurred during performance. This clause typically applies to contracts where the deliverables and requirements are clearly defined, and the contractor is paid the agreed-upon amount upon completion or according to a set schedule. Its core practical function is to provide cost certainty for both parties, simplifying budgeting and reducing the risk of disputes over fluctuating expenses.
Lump Sum Fixed Fee shall be the total amount of compensation to be paid to the Consultant for the Services performed on a specific Project, or phase or task under a Work Order. Payments to the Consultant shall be based on a percentage of completion basis.
Lump Sum Fixed Fee. The Owner shall pay, and the Construction Manager shall accept as complete payment for performance of Pre-Construction Services, a negotiated fixed fee not to exceed $ , more particularly identified and set forth in Appendix “C”. The scope, timing, number of deliverables and payment processes are set forth in Chapter 2, Article 2 of Appendix “A”, and shall be in accordance with a Project-specific Appendix “E” submitted with the Construction Manager’s scope of services. □ TIME AND MATERIAL NOT TO EXCEED The Owner shall pay, and the Construction Manager shall accept as complete payment for performance of Pre-Construction Services, a fee based upon services rendered and materials provided; however, the Pre-Construction Services Fee shall not exceed ($ ) Dollars.
Lump Sum Fixed Fee. One Million, Two Hundred Ninety Four Thousand Dollars ($1,294,000) plus Reimbursables, at actual cost, not to exceed $32,000.
Lump Sum Fixed Fee shall be the total amount of compensation to be paid to the Consultant for the Services performed. Lump Sum Fees shall be calculated by Consultant utilizing the Wage Rates established in Schedule 1 of the Agreement. PROFESSIONAL SERVICES AGREEMENT