Common use of Preliminary Budget Estimate Clause in Contracts

Preliminary Budget Estimate. Within fourteen (14) days of the Notice to Proceed, the Construction Manager shall submit a detailed cost estimate of the proposed design (such estimate, the “Preliminary Budget Estimate”). With regard to building systems (i.e. roofs, doors, HVAC, security, IT, etc.), the cost estimate shall be prepared on a “system” basis that identifies the key building systems or functions and allocates an estimated cost for each such system. The Construction Management Fee, the Cost of General Conditions, and Contingencies shall be broken out in separate line items. The primary purpose of such cost estimate is to aid the Department and Client Agency in understanding the costs associated with key elements of the Project so as to better prioritize and manage the use of the funding allocated to this Project.

Preliminary Budget Estimate. Within fourteen (14) days of the Notice to Proceed, the Construction Manager Contractor shall submit a detailed cost estimate of the proposed design (such estimate, the “Preliminary Budget Estimate”). With regard to building systems (i.e. roofs, doors, HVAC, security, IT, etc.), the cost estimate shall be prepared on a “system” basis that identifies the key building systems or functions and allocates an estimated cost for each such system. The Construction Management Fee, the Cost of General Conditions, and Contingencies shall be broken out in separate line items. The primary purpose of such cost estimate is to aid the Department and Client Agency in understanding the costs associated with key elements of the Project so as to better prioritize and manage the use of the funding allocated to this Project.

Preliminary Budget Estimate. Within fourteen (14) days of the Notice to ProceedNTP, the Construction Manager Contractor shall submit a detailed cost estimate of the proposed design (such estimate, the “Preliminary Budget Estimate”). With regard to building systems (i.e. roofs, doors, HVAC, security, IT, etc.), the cost estimate shall be prepared on a “system” basis that identifies the key building systems or functions and allocates an estimated cost for each such system. The Construction Management Fee, the Cost of General Conditions, and Contingencies shall be broken out in separate line items. The primary purpose of such cost estimate is to aid the Department and Client Agency in understanding the costs associated with key elements of the Project so as to better prioritize and manage the use of the funding allocated to this Project.