Open Book Estimate definition

Open Book Estimate means the EPCM Contractor’s January 2010 estimate of the cost to MMB of completing the Project Work from the Effective Date through to the Final Acceptance Date and of the EPCM Services for the Project, together with a clear and comprehensive explanation of all elements, factors, assumptions, and data necessary to understand how the estimate was derived.
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Examples of Open Book Estimate in a sentence

  • The Phase I EPCM Work shall not be deemed to have been completed until the Owner accepts the Target Price and the Target Schedule, based upon a mutually acceptable Open Book Estimate.

  • The EPCM Contractor agrees to complete performance of the Phase I EPCM Work pursuant to this Agreement on a cost reimbursable basis with a fee based on a set percentage, determined pursuant to Schedule 3-A, to produce a Target Price and a Target Schedule based upon a mutually acceptable Open Book Estimate for Owner's review and acceptance, in a timely manner.

  • Upon completion of the Phase I EPCM Work, the Owner and the EPCM Contractor shall confirm in writing the proposed Target Price and the proposed Target Schedule pursuant to the mutually acceptable Open Book Estimate.

  • For the purposes of this Agreement, the Target Price shall consist of the Open Book Estimate, plus mutually acceptable, normal Contingencies, plus Escalation.

Related to Open Book Estimate

  • SF1-4 Intrinsic Loss Estimate means total losses under this Single Family Shared-Loss Agreement in the amount of eighteen million dollars ($18,000,000.00).

  • Intrinsic Loss Estimate means total losses under the shared loss agreements in the amount of eighty one million dollars ($81,000,000).

  • Open Book Data means complete and accurate financial and non-financial information which is sufficient to enable the Customer to verify the Contract Charges already paid or payable and Contract Charges forecast to be paid during the remainder of this Contract, including details and all assumptions relating to: a) the Suppliers Costs broken down against each Good and/or Service and/or Deliverable, including actual capital expenditure (including capital replacement costs) and the unit cost and total actual costs of all goods and/or services; b) operating expenditure relating to the provision of the Goods and/or Services including an analysis showing: the unit costs and quantity of Goods and any other consumables and bought-in goods and/or services; manpower resources broken down into the number and grade/role of all Supplier Personnel (free of any contingency) together with a list of agreed rates against each manpower grade; a list of Costs underpinning those rates for each manpower grade, being the agreed rate less the Suppliers Profit Margin; c) Overheads; d) all interest, expenses and any other third party financing costs incurred in relation to the provision of the Goods and/or Services; e) the Supplier Profit achieved over the Contract Period and on an annual basis; f) confirmation that all methods of Cost apportionment and Overhead allocation are consistent with and not more onerous than such methods applied generally by the Supplier; g) an explanation of the type and value of risk and contingencies associated with the provision of the Goods and/or Services, including the amount of money attributed to each risk and/or contingency; and h) the actual Costs profile for each Service Period.

  • Total Intrinsic Loss Estimate means the sum of the SF1-4 Intrinsic Loss Estimate in the Single Family Shared-Loss Agreement, and the Commercial Intrinsic Loss Estimate in the Commercial Shared-Loss Agreement, expressed in dollars.

  • Cost Estimate means the detailed projected expenditure, including material costs and overhead, equipment costs and overhead, labor costs and overhead, and all taxes associated with each major material and service component, required for a line extension. It shall also separately identify any incremental costs associated with providing premium services. The Company may, for the purpose of standardization, establish standard construction cost estimates, for basic or premium service plans, which shall not exceed, in any event, the average cost of constructing such line extensions in the area involved, in which case the term “cost estimate” as used in this section will be understood to mean the standard estimate thus established.