Common use of Preliminary Cost Estimates Clause in Contracts

Preliminary Cost Estimates. § 2.1.5.1 When the Owner has sufficiently identified the Project requirements, and the Design Professional has prepared other basic design criteria, and based on such preliminary design and other design criteria, the CM/GC shall prepare preliminary estimates of the Cost of the Work or the cost of program requirements using area, volume or similar conceptual estimating techniques for the Design Professional’s review and Owner’s approval. If the Design Professional or CM/GC suggests alternative materials and systems, the CM/GC shall provide cost evaluations of those alternative materials and systems. The CM/GC, and not the Design Professional, shall ultimately be responsible for cost estimates.

Preliminary Cost Estimates. § 2.1.5.1 When the Owner has sufficiently identified the Project requirements, and the Design Professional has prepared other basic design criteria, and based on such preliminary design and other design criteria, the CM/GC shall prepare preliminary estimates of the Cost of the Work or the cost of program requirements using area, volume or similar conceptual estimating techniques for the Design Professional’s review and Owner’s approval. If the Design Professional or CM/GC suggests alternative materials and systems, the CM/GC shall provide cost evaluations of those alternative materials and systems. The CM/GC, and not the Design Professional, shall ultimately be responsible for cost estimates.. Commented [MK1]: This will vary depending on job 100% Schematic Design, 100% Design Development, 50% Construction Documents, and at 95% Construction Documents as agreed to by the Owner, CM/GC and

Preliminary Cost Estimates. § 2.1.5.1 When the Owner has sufficiently identified the Project requirements, and the Design Professional has prepared other basic design criteria, criteria and based on such preliminary design and other design criteria, the CM/GC shall prepare preliminary estimates of the Cost of the Work or the cost of program requirements using area, volume or similar conceptual estimating techniques for the Design Professional’s review and Owner’s approval. If the Design Professional or CM/GC suggests alternative materials and systems, the CM/GC shall provide cost evaluations of those alternative materials and systems. The CM/GC, and not the Design Professional, shall ultimately be responsible for cost estimates.