THE CONSTRUCTION CONTINGENCY Clause Samples

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THE CONSTRUCTION CONTINGENCY. Estimates of the Contract Price shall not include: (1) Contractor’s Preconstruction Phase Services Fee; (2) the compensation of the A/E, the A/E’s mechanical, electrical, plumbing, structural, civil, and/or any other consultants and subconsultants; or (3) the costs of land, right-of-way, debt service or other costs which are the responsibility of DFCM.
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THE CONSTRUCTION CONTINGENCY. An agreed upon sum included in the GMP for the purpose of defraying the CONTRACTOR’s actual approved expenditures for changes requested by the CITY in the 90 percent Construction Documents or Specifications. Any costs to be applied against the contingency must first be approved by the CITY in writing. The CONTRACTOR will be required to furnish documentation evidencing the expenditures charged to this Contingency prior to release of funds by the CITY. At Final Completion of the Project, any remaining monies in the Construction Contingency shall vest in the CITY. The Guaranteed Maximum Price shall be reduced in the amount of the Construction Contingency remaining monies, if any.
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THE CONSTRUCTION CONTINGENCY. An agreed upon sum included in the GMP for the purpose of defraying ▇▇▇▇’▇ actual approved expenditures due to unforeseen circumstances relating to ▇▇▇▇’▇ direct construction costs, or to cover other costs arising during construction, such as: anticipated costs that exceed a particular line item within the estimated ▇▇▇▇’▇ direct construction cost; increases in SUBCONTRACTOR costs due to insolvency, preferred SUBCONTRACTOR cost differentials generated by contract selection of SUBCONTRACTORS (PROJECT MANAGER’s designation of preferred SUBCONTRACTORS shall be subject to the provisions of subsection 11.2); correction of defective WORK ; payment of deductible amounts for loss covered by Builder’s Risk; and any other cost agreed to mutually in writing between the PROJECT MANAGER and ▇▇▇▇ . Any costs to be applied against the CONTINGENCY must first be approved by the CONSULTANT and the CITY in writing. ▇▇▇▇ will be required to furnish documentation evidencing the expenditures charged to the CONTINGENCY prior to release of funds by the CITY. At FINAL COMPLETION of the PROJECT, any remaining monies in the Construction Contingency shall vest in the CITY and will be excluded from any cost savings sharing pursuant to subsection 8.11. The GMP shall be reduced in the amount of the Construction Contingency remaining monies, if any.
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THE CONSTRUCTION CONTINGENCY. A list of Allowances, if any, and a statement of their basis.
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THE CONSTRUCTION CONTINGENCY. An agreed upon sum included in the GMP for the purpose of defraying ▇▇▇▇’▇ actual approved expenditures due to unforeseen circumstances relating to ▇▇▇▇’▇ direct construction costs, or to cover other costs arising during construction, such as: anticipated costs that exceed a particular line item within the estimated ▇▇▇▇’▇ direct construction cost; increases in SUBCONTRACTOR costs due to insolvency, preferred SUBCONTRACTOR cost differentials generated by contract selection of SUBCONTRACTORS (PROJECT MANAGER’s designation of preferred SUBCONTRACTORS shall be subject to the provisions of subsection 11.2); correction of defective WORK ; payment of deductible amounts for loss covered by Builder’s Risk; and any other cost agreed to mutually in writing between the PROJECT MANAGER and CMAR . Any costs to be applied against the CONTINGENCY must first be approved by the CONSULTANT and the CITY in writing. CMAR will be required to furnish documentation evidencing the expenditures charged to the CONTINGENCY prior to release of funds by the CITY. At FINAL COMPLETION of the PROJECT, any remaining monies in the Construction Contingency shall vest in the CITY and will be excluded from any cost savings sharing pursuant to subsection 8.11. The GMP shall be reduced in the amount of the Construction Contingency remaining monies, if any. 9.1 Direct Costs Buy Out Savings. In the event that CMAR awards contracts for portions of the WORK which are less than the amounts budgeted in the GMP approved by the OWNER for such portions of the WORK, such buyout savings shall be first utilized to offset shortfalls on other bid packages. If, after offsetting any shortfalls, buyout savings remain, at the time provided on Exhibit “D” for the award of subcontracts, all buyout savings shall be transferred to the OWNER’s CONTINGENCY. 9.2 Within 90 days of the execution of this Contract and monthly thereafter, ▇▇▇▇ is required to submit, in writing, a buyout reconciliation of all subcontracts that have been awarded since and as a product of the initial bid opening date. The result of this reconciliation is to be presented in association with a modified schedule of values reflecting the Direct Cost Buyout Savings as set forth in subsection 9.1. above.
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Related to THE CONSTRUCTION CONTINGENCY

  • Contract Construction 6.27.1 The parties acknowledge that each party and its counsel have reviewed this CONTRACT and that the normal rule of construction to the effect that any ambiguities are to be resolved against the drafting party shall not be employed in the interpretation of this CONTRACT or any amendment or exhibits hereto.

  • Project Construction The Contractor agrees to provide continuous on-site supervision on each Job Order, while progress on the project is being accomplished. The Contractor’s Project Manager will ensure: 1. Coordination and providing supervision to all Subcontractor and workers; 2. Posting of the prevailing wage scale; 3. Maintaining a copy of the Contractors safety program manual made available to all construction personnel; 4. Conducting weekly on-site safety meetings; 5. Completing the daily labor and construction progress log on a daily basis and submit copies to the County on a daily basis. Copies of the previous day’s reports must be submitted by 9:00AM of the following day. a. Daily labor log is to include a listing of Subcontractor(s) and a count of workers by trade providing services for the day. b. Construction progress log is to include a narrative of the Work provided by trade(s). Narrative agrees to include the various areas of the jobsite where Work was performed and any problems or conditions that were encountered. c. In the event the Contractor fails to provide a daily log and/or construction progress log, the County may impose damages against the Contractor in the amount of fifty dollars ($50.00) for each log and deduct from the Contractor’s payment request, for each day the Contractor does not provide the documentation. 6. County may suspend Contractor operations if no Contractor Superintendent is observed. All delays caused by the suspension will be the responsibility of the Contractor. No time extension or claims for cost(s) associated with the suspension will be granted by the County.

  • DAF Construction The DAF shall be designed and constructed in accordance with Good Utility Practice. Within one hundred twenty (120) Calendar Days after the Commercial Operation Date, unless the Developer and Connecting Transmission Owner agree on another mutually acceptable deadline, the Developer shall deliver to the Connecting Transmission Owner and NYISO “as- built” drawings, information and documents for the DAF, such as: a one-line diagram, a site plan showing the Large Generating Facility and the DAF, plan and elevation drawings showing the layout of the DAF, a relay functional diagram, relaying AC and DC schematic wiring diagrams and relay settings for all facilities associated with the Developer’s step-up transformers, the facilities connecting the Large Generating Facility to the step-up transformers and the DAF, and the impedances (determined by factory tests) for the associated step-up transformers and the Large Generating Facility. The Developer shall provide to, and coordinate with, Connecting Transmission Owner and NYISO with respect to proposed specifications for the excitation system, automatic voltage regulator, Large Generating Facility control and protection settings, transformer tap settings, and communications, if applicable.