Cost of Works definition
Cost of Works means the fair estimate amount or value of the works at the onset inclusive of value added tax and all applicable taxes, as certified or which would, normally, be certifiable for payment to contractors (irrespective of who actually carries out the works) in respect of the works designed, specified or administered by the professional engineer, before deduction of liquidated damages or penalties, including—
Cost of Works means the cost incurred by the Government for the Works as particularly specified under the Schedules of this Agreement (Part B -Schedule of Fees);
Cost of Works means all costs, charges and expenses as estimated by the Authority, and which the Authority may have to incur on, or in connection with, execution of the works, and includes, any other charges or fees as may be prescribed; and also includes all expenses which, may be incurred by the Authority in recovery thereof;
Examples of Cost of Works in a sentence
All claims in favour of the Contractor as per Arbitration Award, other than those attributable to gross negligence of the Executing Agency, will be chargeable to Cost of Works.
There has been a delay of over 90 days between the substantial completion of design/contract stage and closing date of tender and an adjustment factor of say 0.95 to the Net Cost of Works for calculation of the Design Stage Fee is obtained from the standard Adjustment Clause.
That the budget amounts for the construction projects in the Pricing Schedules must be taken as the Cost of Works value, excluding of VAT for the purposes of determining the fee.
The summary of cost of the proposed STP and sewerage work Pahari zone of Patna.Table 2.7: Abstract of Cost of Works Proposed STP Table 2.8: Project Cost for proposed sewerage system project (Zone- VI) Sr.No. Sr.No.
Certain items included within the Total Estimated Cost of Works are not included in the amount used to determine Section 94A Contri- butions, therefore the Section 94A Contributions are generally based on a lower amount.
More Definitions of Cost of Works
Cost of Works for the purpose of calculating the fees shall mean the total payment made by the Government to the Contractor , in respect for the following
(i) any payment (before deduction of any amount of liquidated damages or penalties payable by the Contractor to the Government) made by the Government to the Contractor by way of bonus, incentive or ex-gratia payments or in settlement of claims;
(ii) a fair valuation of any labour, materials, manufactured goods, machinery or other facilities provided by the Government, and of the full benefit accruing to the Contractor from the use of any construction plant and equipment belonging to the Government which the Government has required the Contractor to use in the execution of the works;
(iii) the market value, as if purchased new, of any second-hand materials, manufactured goods and machinery incorporated in the works;
(iv) the cost of geotechnical investigations;
(v) a fair proportion of the total cost to the Government of any work executed in connection with the provision or diversion of public utilities systems which is carried out, other than by the Contractor, under arrangements made by the Consulting Engineer, assessed with reference to the cost incurred by the Consulting Engineer in making such arrangements, and
(vi) any variations required by the Government that requires input by the Consulting Engineer, but shall not include-
Cost of Works means the cost incurred by the Client for the Works as particularly specified under the Schedules of this Agreement (Part B - Schedule of Fees)
Cost of Works means costs ascertained in accordance with the definition contained in the Schedule hereto; “multiplier” includes a factor derived from the elements covering annual salary, fringe benefits including bonuses, Employees Provident Fund and staff saving funds, subscriptions to professional institutions, leave, medical aid and insurances, seminars, conferences , and workshops, office administrative charges and expenses including rentals, telephones, telex and postal charges, stationery, subscriptions to journals, promotion, training and scholarships, transport costs, legal and audit fees, bank charges, idle time and profits; but in the case of site staff recruited specially for the project, the multiplying factor shall be derived from the elements covering only the annual salary, gratuity, Employees Provident Fund, medical aid, insurances, overheads and profits only;
Cost of Works means the total cost incurred by the Government for the Works, however incurred, of all builders works, all specialists’ or sub-contractors works, services, installations and equipment designed, specified or allowed for and forming an integral part of the Project including:
Cost of Works means the total cost incurred by the Client for the Works, however incurred, of all builders works, all specialists’ or sub- contractors works, services, installations and equipment designed, specified or allowed for and forming an integral part of the Project including:
(i) a market value of any labour, materials, manufactured goods, machinery or other facilities provided by the Client;
(ii) the full benefit accruing to the Contractor from the use of construction plant and equipment belonging to the Copyright in Bills of Quantities and other documents prepared by the CQS is reserved to the CQS and the Client shall not without the prior written consent of the CQS make use of such douments for the carrying out of any work other than for the purpose of the Works which such documents have been prepared for. If the Client wishes to make use of such documents for carrying out repeat works at other sites then prior written consent of the CQS should be obtained and for which the CQS shall be paid an agreed copyright royalty for use of such documents by the Client.
(iii) The CQS may, with the prior written consent of the Client, publish alone or in conjunction with any other person any article, photographs or other illustrations relating to the project. which the Client has required to be used in the execution of the Works;
(iv) the market value of materials, manufactured goods and machinery incorporated in the Works;
(v) price variations arising from fluctuation of prices; and
(vi) approved Contractor’s claims for additional preliminaries due to the extension of time which have been derived from the priced preliminaries but shall not include: • operating equipment or machinery that are not an integral or essential part of the Works; • administrative expenses incurred by the Client; • all consultancy fees incurred by the Client; • interest on capital incurred during construction; • the costs of raising money required for the construction of the Works; and • costs of land and way leaves.