Common use of Owner Controlled Insurance Program (OCIP Clause in Contracts

Owner Controlled Insurance Program (OCIP. Purchaser may elect to implement an Owner Controlled Insurance Program (OCIP) for all or a portion of the Work. In the event Purchaser implements an OCIP, Contractor and its Subcontractors shall enroll in the OCIP and will cooperate with Purchaser and the OCIP administrator in implementation of the OCIP, and shall reduce the amount of any labor and other fixed rates chargeable to Purchaser under this Agreement by the amount of any insurance, workers’ compensation, and similar premiums and associated charges, including claim costs and safety and administrative fees, included in such rates associated with insurance provided by the OCIP. For Work performed under a target cost incentive program, the amount of the target cost shall be reduced by the cumulative amount of such reduction in Contractor’s invoices.

Owner Controlled Insurance Program (OCIP. Purchaser may elect to implement an Owner Controlled Insurance Program (OCIP) for all or a portion of the Work. In the event Purchaser implements an OCIP, Contractor Supplier and its Subcontractors shall enroll in the OCIP and will cooperate with Purchaser and the OCIP administrator in implementation of the OCIP, and shall reduce the amount of any labor and other fixed rates chargeable to Purchaser under this Agreement by the amount of any insurance, workers’ compensation, and similar premiums and associated charges, including claim costs and safety and administrative fees, included in such rates associated with insurance provided by the OCIP. For Work performed under a target cost incentive program, the amount of the target cost shall be reduced by the cumulative cu mulative amount of such reduction in ContractorSupplier’s invoices.

Owner Controlled Insurance Program (OCIP. Purchaser may elect to implement an Owner Controlled Insurance Program (OCIP) for all or a portion of the Work. In the event Purchaser implements an OCIP, Contractor and its Subcontractors shall enroll in the OCIP and will cooperate with Purchaser and the OCIP administrator in implementation of the OCIP, and shall reduce the amount of any labor and other fixed rates chargeable to Purchaser under this Agreement by the amount of any insurance, workers’ workers compensation, and similar premiums and associated charges, including claim costs and safety and administrative fees, included in such rates associated with insurance provided by the OCIP. For Work performed under a target cost incentive program, the amount of the target cost shall be reduced by the cumulative amount of such reduction in Contractor’s invoices.