Miscellaneous or Contingency Costs Sample Clauses
The Miscellaneous or Contingency Costs clause defines how unforeseen or incidental expenses, not specifically itemized elsewhere in the contract, will be handled. It typically allows for a set percentage or amount to be allocated for unexpected costs that may arise during the execution of a project, such as minor material price increases or unanticipated regulatory fees. This clause ensures that both parties are prepared for and can address minor, unpredictable expenses without renegotiating the entire contract, thereby reducing disputes and maintaining project momentum.
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Miscellaneous or Contingency Costs. No miscellaneous or contingency costs may be included in the budget. Contributions to a contingency reserve or any similar provision made for unforetold events are unallowable. All proposed costs must be included in the specific line items and fully justified. All forms contained in the financial application package must be completed accurately and in full. Subcontracting All subcontracting awarded as a result of this Agreement will be in accordance with 2 CFR 215.40- 215.48, 13 CFR 143.36 and 13 CFR 143.37 as applicable to the entity.