Contingency Sum definition

Contingency Sum means the sum as defined and referred to in sub-clause
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Contingency Sum means the sum provided for work or expenditure which cannot be foreseen at the time the tender documents are issued.
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Contingency Sum means the sum provided for work or expenditure which cannot be foreseen at the time the tender documents are issued which sum may include provision for work to be executed or for materials or services to be supplied by a Nominated Sub-contractor.
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Examples of Contingency Sum in a sentence

  • Contingency Sum means the sum provided for work(s) or expenditure which cannot be foreseen at the time the tender documents are issued.

  • The Revenue Budget Contingency Sum provides some scope to meet any additional pay and pension costs.

  • The information required includes the following: ▪ Who requested the variation▪ Why the variation is required▪ Why the variation was not allowed for in the contract documents▪ Full cost implications including main contractor’s costs (if any)▪ Recommendation on the value for money on offer in proceeding with the variation▪ Details of how the additional cost is to be funded (e.g. through savings, through the Contingency Sum, directly by the Client, etc.).

  • In accordance with the decision made by the *Central Tender Board / Public Tender Board / Director of , I hereby notify you that your *(corrected) tender +[, as adjustedin accordance with the notification in writing dated issued by the Government in accordance with sub-clause (1) of the Special Conditions of Tender Clause XX on reduction of Contingency Sum] which totals (words and figures) is accepted.

  • However, the assumptions made within the MTFP are considered to be prudent and the Revenue Budget Contingency Sum provides scope to meet any additional costs.

  • However, according to GCC Clause 1(1), both Provisional Sum and Contingency Sum may include provision for works to be executed or for materials or services to be supplied by a Nominated Sub-contractor.

  • Under the GCC for Term Contracts (2002 Edition), Contingency Sum may also be specified in a works order in term contracts for work or services or expenditure which cannot be foreseen at the time such works order is issued.

  • If a tenderer does not meet the qualification requirement on the date set for the close of tender or, if this has been extended, he extended date, his tender shall not be considered.‌‌ The financial limits in the eligibility check shall be equated with the Contract Sum which includes all Prime Cost and Provisional Sums, Contingency Sum and any other contingency allowed for in the contract.

  • Work shall not commence on any provisional items until the Superintendent has issued a Variation Order.If a Contingency Sum is included, any charge made against it shall be ordered and valued as a variation.

  • Any significant increases would need to be met in the first instance from the Revenue Budget Contingency Sum and after that from Precept increases or efficiency savings.


More Definitions of Contingency Sum

Contingency Sum means such sum, if any as may be provided in the Contract for expenditure for unforeseen purposes.
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Contingency Sum means the sum that will be retained by the Council during each year which is equivalent to 5% of the levy collected.
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Related to Contingency Sum

  • contingency fee means any payment or other compensation that is contingent upon or is calculated upon the basis of a degree of success in soliciting or obtaining a Government contract or negotiating the whole or any part of its terms;

  • Contingency Fund means a monetary amount that continues month to month, if approved by a case manager, that is set aside in the Independent Choices Program service budget to purchase identified items that substitute for personal assistance.

  • Contingency Reserve means a reserve established for the protection of policyholders covered by policies insuring munici- pal bonds against the effect of excessive losses occurring during adverse economic cycles.

  • Contingency operation means a military operation that results in the call or order to, or retention on, active duty of members of the uniformed services during a war or during a national emergency declared by the President or Congress.

  • Contingency means the identified and possible or already occurred fault of an element, including not only the transmission system elements, but also significant grid users and distribution network elements if relevant for the transmission system operational security;

  • Emergency shelter means a facility that provides a

  • Emergency Situation means a situation in which an individual is experiencing a serious mental illness or a developmental disability, or a minor is experiencing a serious emotional disturbance, and 1 of the following applies:

  • Emergency Situations Fire, any other casualty, or any other events, circumstances or conditions which threaten the safety or physical well-being of the Facility's guests or employees or which involve the risk of material property damage or material loss to the Facility.

  • Requisite Reserve Amount As of any date with respect to any Series (or Class within such Series), the amount, if any, required to be maintained in the Reserve Account, if any, for such Series or Class as specified in or determined pursuant to the related Supplement.

  • Original Pre-Funded Amount The amount deposited by the Depositor in the Pre-Funding Account on the Closing Date, which amount is $36,215,225.

  • Emergency Expenditure means any of the Eligible Expenditures set forth in the CERC Operations Manual in accordance with the provisions of Section I.G of Schedule 2 to this Agreement and required for the activities included in the CERC Part of the Project.

  • Construction Loan means the loan to finance construction of the Apartment Housing, made to Owner by the Construction Lender.

  • Contingency plan means a document setting out an organized, planned, and coordinated course of action to be followed in case of a fire, explosion, or release of hazardous waste or hazardous waste constituents which could threaten human health or the environment.

  • Project Funding means the funding for the Services;

  • Pre-Funded Warrants means, collectively, the Pre-Funded Common Stock purchase warrants delivered to the Purchasers at the Closing in accordance with Section 2.2(a) hereof, which Pre-Funded Warrants shall be exercisable immediately and shall expire when exercised in full, in the form of Exhibit A-2 attached hereto.

  • Required Repair Fund shall have the meaning set forth in Section 7.1.1 hereof.

  • Emergency Expenditures means any of the eligible expenditures set forth in the CERC Manual referred to in Section I.F of Schedule 2 to this Agreement and required for the Contingent Emergency Response Part.

  • Large project means, for purposes of the Soft Cost Ratio limitation in Section 3.F, a Project with more than 24 Housing Credit units.

  • Lead-based paint means paint or other surface coatings that contain lead equal to or in excess of

  • Construction Funding Subsidy or “CFS” means the funding that the MOHLTC agreed to provide, or to ensure the provision of, to the HSP, in an agreement for the construction, development, redevelopment, retrofitting or upgrading of beds (a “Development Agreement”).

  • Report-based Disbursements means the Borrower’s option for withdrawal of funds from the Credit Account referred to in Part A.5 of Schedule 1 to this Agreement;

  • Emergency Repairs means repairs to a utility facility located in or adjacent to a primary city street that must be performed immediately when the necessity arises to safeguard life or property or maintain continued operation of the facility.

  • Monitoring Schedule means the Schedule containing details of the monitoring arrangements.

  • Emergency exit means an emergency door, emergency window or escape hatch.

  • Lead-based paint hazard means hazardous lead-based paint, a dust-lead hazard, or a soil-lead hazard.

  • Emergency work means any urgent measures which in the opinion of the Engineer-in-Charge become necessary during the progress of the work to obviate any risk of accident or failure or which become necessary for security.