General Requirements Costs definition
Examples of General Requirements Costs in a sentence
The proposed Component Change Order shall include bid backup and all estimates of Trade Contractor Costs and General Requirements Costs.
Allowable Change Order Costs include General Requirements Costs incurred exclusively for completion of the Change Order Work.
The proposed Component Change Order shall include a CCO Component Cost Summary that itemizes the proposed CCO Maximum Price into separate CCO Cost Categories, which shall include: (i) Trade Contractor and General Requirements Costs, (ii) General Conditions Costs, (iii) Contingency Costs, and (iv) the portion of the Construction Phase Fee associated with the proposed CCO Work.
If the rate of such tax increases after execution of GMP Change Order, then the GMP Cost Category for Trade Contractor and General Requirements Costs shall be increased by the amount of such additional taxes incurred by CM/GC as a result of such change in tax rate.
The GMP Cost Summary shall list the following estimated amounts as separately identified GMP Cost Categories: (i) Trade Contractor and General Requirements Costs, (ii) General Conditions Costs, (iii) Contingency Costs, (iv) Pre-Construction Phase Sum, (v) Construction Phase Fee, and (vi) the sum of all approved Change Orders, including all Component Change Orders.
General Requirements Costs exclude the costs of any CM/GC employee performing Basic Services, but may include the costs of any CM/GC employee performing General Requirements Work.
General Requirements Costs include the costs of the Work listed in Division 1 of the Contract Specifications, unless those items are listed as General Conditions Costs on Exhibit C, in which case those items shall not be reimbursable as General Requirements Costs.
Trade Contractor and General Requirements Costs include the items specifically listed below.
The Construction Manager’s General Requirements shall be transparent with Construction Manager providing all information necessary for Owner to verify and audit all General Requirements Costs.
If the Change Order authorizes an increase in Contract Time, Allowable Change Order Costs include General Conditions & Labor Costs and General Requirements Costs for such extended Contract Time.