Payment Bond for Preconstruction Sample Clauses

Payment Bond for Preconstruction. If the Preconstruction Fee (Section 4, Part 1) and the Preconstruction Costs and Expenses (Section 4, Part 2) exceed $100,000.00, the CM/GC will furnish a Payment Bond with a penal sum equal to or greater than the total of the Preconstruction Costs and Expenses and the Preconstruction Fee. The bond will be provided prior to beginning providing any preconstruction services.
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Payment Bond for Preconstruction. Payment and performance bonds are only required for physical work at the project site. No payment or performance bonds shall be required for Preconstruction Services.
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Related to Payment Bond for Preconstruction

  • Preconstruction Phase The Preconstruction Phase shall mean the period commencing on the date of this CM/GC Contract and ending upon commencement of the Construction Phase; provided that if the Owner and CM/GC agree, the Construction Phase may commence before the Preconstruction Phase is completed, in which case both phases shall proceed concurrently, subject to the terms and conditions of the Contract Documents.

  • Preconstruction Phase Services Preconstruction Phase Services shall mean all services described in Article 3.1, and any similar services described in the Request for Proposals, including such similar services as are described in the Construction Manager at Risk’s Response to the Request for Proposals to the extent they are accepted by Owner, but excluding any Early Work. Early Work shall be considered part of Construction Phase Services.

  • Construction Administration Phase Delete the following paragraph if Submittal Exchange isn’t going to be used: 2.2.2.

  • Preconstruction Fee The Preconstruction Fee shall be payable to CM/GC on a cost reimbursement basis up to a maximum sum of $ , which shall cover constructability review, value engineering, cost estimating, development of GMP, and all other Preconstruction Phase Services, as described in Article 3. If CM/GC's costs for provision of Preconstruction Phase Services exceed the maximum Preconstruction Fee, CM/GC shall pay such additional cost without reimbursement. CM/GC shall not be entitled to any CM/GC Fee upon the Preconstruction Fee. Owner shall pay the Preconstruction Fee on a cost-reimbursement basis with each application for payment during the Preconstruction Phase. If the total actual Preconstruction Fee is less than the maximum Preconstruction Fee used for initial calculation of the GMP as provided above, the GMP shall be reduced by the difference; provided that Owner may direct instead that any unapplied portion of the maximum Preconstruction Fee be applied to Construction Phase Services, in which case the GMP shall not be reduced by the portion so applied. Except to the extent the parties may expressly agree to the contrary in the GMP Amendment, no Preconstruction Fee or other fee, compensation or reimbursement shall be payable to CM/GC with respect to Preconstruction Services performed after execution of the GMP Amendment.

  • Construction Phase Part 1 –

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