Common use of STORED MATERIALS AND EQUIPMENT Clause in Contracts

STORED MATERIALS AND EQUIPMENT. Unless otherwise provided in the contract documents, applications for payment may include materials and equipment not yet incorporated into the Work but delivered to and suitably stored onsite or offsite including applicable insurance, storage, and costs incurred transporting the materials to an offsite storage facility. Approval of payment applications for stored materials and equipment stored offsite shall be conditioned on a submission by the Construction Manager of bills of sale and proof of required insurance, or such other documentation satisfactory to the Owner to establish the proper valuation of the stored materials and equipment, the Owner's title to such materials and equipment, and to otherwise protect the Owner's interests therein, including transportation to the Worksite.

STORED MATERIALS AND EQUIPMENT. Unless otherwise provided in the contract documentsContract Documents, applications for payment may include materials and equipment not yet incorporated into the Work but delivered to and suitably stored onsite or offsite offsite, including applicable insurance, storage, and costs incurred transporting the materials to an offsite storage facility. Approval of payment applications for stored materials and equipment stored offsite shall be conditioned on a submission by the Construction Manager Design-Builder of bills of sale and proof of required insurance, or such other documentation procedures satisfactory to the Owner to establish the proper valuation of the stored materials and equipment, the Owner's ’s title to such materials and equipment, and to otherwise protect the Owner's ’s interests therein, including transportation to the Worksiteworksite.