Construction Contingency definition

Construction Contingency means an amount included in the GMP Amendment to cover any shortfalls in the scope of work as it was known at the time of the GMP Proposal execution.

Construction Contingency shall have the meaning given in the Agreement.

Construction Contingency means separately identifiable contingency funds included in a Pricing Amendment as set forth in Section 7.4 of this Agreement.

Examples of Construction Contingency in a sentence

• The Construction Contingency shall be for use by Contractor, as approved by District, to pay for miscellaneous work items that are required to complete the Project, including the coverage of trade scope gaps, missed work, areas of damage that may occur between trades during construction, subcontractor coordination problems, and Contractor coordination errors.

• A separate calculation of whether there are any savings associated with change orders under the District Contingency and Construction Contingency may be performed to determine if there are any savings that remain on these areas and applied to the overall savings calculation.

• The Construction Contingency shall originally consist of Dollars ($ _).

• Contractor shall obtain written approval from District prior to using the Construction Contingency.

• If District approves such request in writing, the costs of the Extra Work/Modifications, as established pursuant to this Section 9, shall be added to or deducted from the District Contingency and/or Construction Contingency, as applicable.

More Definitions of Construction Contingency

Construction Contingency means separately identifiable contingency funds included in a GMP as set forth in Section 7.8 of this Agreement.

Construction Contingency means that part of the Contract Price the Contractor may use during the Construction Phase as provided in these General Conditions at Section 7.10, to cover legitimate unforeseen construction expenses, or expenses otherwise agreed by Owner and Contractor, subject to Owner’s approval, after Contract Price has been accepted. Contingency may not be used to cover the cost of any work on the Project after issuance of the Certificate of Final Completion.

Construction Contingency means that portion of the Construction Cost reserved to cover increased or added costs resulting from circumstances that may not be completely predictable or foreseeable at the time that the Guaranteed Maximum Price (GMP) estimate is established but that can reasonably be assumed to be included within the scope of work for the Project and presumed to have been included in but was omitted from the GMP estimate. Examples of circumstances that may give rise to the use of Construction Contingency include but are not limited to:

Construction Contingency means funding identified to address unanticipated or unknown costs identified subsequent to the proposal or bidding process to achieve the Work. Construction Contingency is not a bidding contingency.

Construction Contingency means the line item included by the CM in the GMP and the Schedule of Values that is available to cover the net amount of any additional costs resulting from unforeseen conditions and events not evidenced at the time that the CM awards a Subcontract or the parties execute the GMP Amendment, as applicable, to the extent that such conditions or events do not result in or constitute significant owner-requested Changes in the Work.

Construction Contingency means ( %) of the sum of all Subcontracts and JSL-approved Work to be self-performed by Construction Manager, unless otherwise agreed by JSL and Construction Manager in the GMP Amendment or otherwise in accordance with the Contract Documents.

Construction Contingency means an amount available for use by Construction Manager, subject to Owner’s prior written approval, to cover certain unanticipated costs as more fully described in Section 10.4.