Lump Sum Work and Unit Prices Sample Clauses
The "Lump Sum Work and Unit Prices" clause defines how payment for work will be structured in a contract, specifying whether compensation is based on a fixed total amount (lump sum) or on measured quantities at agreed unit rates. In practice, lump sum items are paid as a single price for the entire scope of work, regardless of actual costs incurred, while unit price items are paid according to the actual quantities completed, multiplied by the set unit price. This clause ensures clarity in payment terms, helps allocate financial risk between the parties, and provides a clear method for valuing changes or variations in the work.
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Lump Sum Work and Unit Prices. County shall pay for work shown on the Schedule of Values as "Lump Sum", "L.S.", or "Job" at the lump sum price shown. Any contract work for which a unit price has been agreed upon, will be paid for at the actual quantities constructed in accordance with the Contract Documents. Upon completion of the work, if the actual quantities show either an increase or decrease from the quantities stated in the agreement, the unit price stated will apply unless a change to the unit price is warranted under the "Changes" Section of the General Conditions.
Lump Sum Work and Unit Prices. Owner shall pay for work shown on the Schedule of Values as "Lump Sum", "L.S.", or "Job" at the lump sum price shown. Any contract work for which a unit price has been agreed upon, will be paid for at the actual quantities constructed in accordance with the Contract Documents. Upon completion of the work, if the actual quantities show either an increase or decrease from the quantities stated in the agreement, the unit price stated will apply unless a change to the unit price is warranted under the "Changes" Section of the General Conditions.
Lump Sum Work and Unit Prices. Owner shall pay for work shown on the GMP Proposal as "Lump Sum", "L.S.", or "Job" at the lump sum price shown. Work for which the GMP Proposal shows a unit price will be paid for at the actual quantities constructed in accordance with the Contract Documents, not at the quantities shown in the GMP Proposal. Upon completion of the work, if the actual quantities show either an increase or decrease from the quantities stated in the GMP Proposal, the unit price stated in the GMP Proposal will apply unless a change to the unit price is warranted under the "CHANGES" Section of the General Conditions.
Lump Sum Work and Unit Prices. County shall pay for work shown on the Bid Schedule as "Lump Sum", "L.S.", or "Job" at the lump sum price shown. Work for which the Bid Schedule shows a unit price will be paid for at the actual quantities constructed in accordance with the Contract Documents, not at the quantities shown in the Bid Schedule. Upon completion of the work, if the actual quantities show either an increase or decrease from the quantities stated in the Bid Schedule, the unit price stated in the Bid Schedule will apply unless a change to the unit price is warranted under the "Changes" Section of the General Conditions.