Contingency Allowance definition

Contingency Allowance means a portion of the Budget reserved by the Arts Commission for design, construction, installation or other related costs that, due to factors beyond the control of the Contractor, exceed the initial budget estimates.

Contingency Allowance means the project contingency maintained for unforeseen expenses or cost overruns on capital works projects, as outlined in the Capital Works Cost Contingency Allowance Policy, available on the TI website.

Contingency Allowance means a portion of the Budget reserved by the Artist for design, construction, installation or other related costs that, due to factors beyond the control of the Artist, exceed the initial budget estimates. The contingency allowance may only be used if approved in advance by BART in writing.

Examples of Contingency Allowance in a sentence

• Use of the Contingency Allowance will be at the discretion of the City of Thorold only.

• In the event that the Form of Tender provides for and contains a Contingency Allowance, it is understood and agreed that such Contingency Allowance is merely for the convenience of accounting by the Owner, and the Contractor is not entitled to payment thereof except for extra or additional work carried out by the Contractor as directed by the Engineer and in accordance with the Contract Documents and only to the extent of such extra or additional work.

• Contingency Allowance: Must be included in the bid price and will not be accepted as an addition unless through a change order.

• When approving Additional Services that are not included in Schedule A, the Client, at its sole discretion, may, in writing, set a limit on the monies from the Contingency Allowance that may be permitted for the requested Additional Services.

• At closeout of Contract, funds remaining in Contingency Allowance will be credited to Owner by Change Order.

More Definitions of Contingency Allowance

Contingency Allowance means a sum of money that is included in the Contract Price to cover the cost of Contingent Work.

Contingency Allowance means a portion of the Budget reserved by the TJPA for design, construction, installation or other related costs that, due to factors beyond the control of the Artist or General Contractor, exceed the initial budget estimates.

Contingency Allowance means an allowance of ten percent (10 %) of the Consultants’ fees, which has been included in the calculation of the Estimated Costs by the City.

Contingency Allowance means a sum of money that is included in the contract price to cover the cost of materials, parts, or equipment rentals related to the Services in addition to those specified in the Contract, if any. This may also include subcontractors only if the subcontracted work is required to address unique issues directly related to the specified Services. The use of this Contingency Allowance may or may not be required.

Contingency Allowance means a total maximum amount of $ (plus GST, if any) for CAPEX costs incurred by the Recipient as detailed in Appendix 1. If the Recipient requires part of the Contingency Allowance at a Completion Date, the Recipient will first obtain written approval of the portion being requested from the Ministry. Any agreed portion will be paid on the satisfactory completion of the relevant Project Deliverable; receipt of a Payment Request in accordance with clause 1 of Part 2 and the terms and conditions of this Agreement.

Contingency Allowance means funds set aside at the start of the Project and specified in the Special Conditions for the purpose of paying for additional items of Work.

Contingency Allowance means the negotiated amount made available by The City and defined at the time of establishment of an Individual GMP, not approved for expenditure but set aside for budgetary purposes, in the event that additional unforeseen items of Work are determined to be required.