Post-Award Subcontract Considerations Sample Clauses

Post-Award Subcontract Considerations. In the event additional information, analysis and/or scope clarifications after GMP acceptance by BOARD require the CM to subcontract for an amount different than as presented and made the basis of the GMP Proposal, the CM shall immediately notify the Miami Dade College (MDC) and A/E in writing identifying the Subcontractor, the amount (plus or minus) of variance and the reason therefore with complete documentation. Any variance resulting in a lesser amount for a subcontract shall be identified as a part of the project financial accounting as “Buyout Fund” by the CM. All such approved reduction of subcontract prices shall accrue to this Buyout Fund. Any approved variance resulting from an increase in subcontract amount meeting the requirements of this paragraph shall be drawn from the Buyout Fund for use by the CM for that subcontract up to the amount of the Buyout Fund (not subject to additional CM’s fee). Any amount remaining in the Buyout Fund at Substantial Completion (or at an earlier time as instructed by the Miami Dade College (MDC) and as mutually agreed by the parties to this Agreement) shall be transferred to the Board and at that time the Buyout Fund shall cease to exist.
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Related to Post-Award Subcontract Considerations

  • Post-Award Small Business Program Re Representation If applicable, The Contractor shall report timely and accurately their small business program re-representation and update XXX.xxx.

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