Schedule of Values. Where the Contract is based on a stipulated sum or Guaranteed Maximum Price (“GMP”), the Contractor shall submit to the Owner and Architect, before the first Application for Payment, a schedule of values allocating the entire Contract Sum to the various portions of the Work and prepared in such form and supported by such data to substantiate its accuracy as the Owner may require. This schedule, unless objected to by the Owner, shall be used as a basis for reviewing the Contractor’s Applications for Payment.
Appears in 21 contracts
Samples: Contract for Construction, Contract for Construction, Contract for Construction
