Prime Cost Item definition

Prime Cost Item means any item noted in the Prime Cost Items Schedule to this Contract and as contemplated by Conditions 4 and 19.

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Prime Cost Item means an item (for example, a fixture or fitting) that either has not been selected, or whose price is not known, at the time a domestic building contract is entered into and for the cost of supply and delivery of which the builder must make a reasonable allowance in the contract;

Prime Cost Item means any item noted in the Prime Cost Items Schedule being an item such as a fixture or fitting (e.g. tiles or tap fittings) – (i) that has not been selected, or the price of which is not reasonably able to be ascertained, when the Contract is entered into; and (ii) for the cost of supply and delivery of which a reasonable allowance is made in the Contract by the Contractor.

Examples of Prime Cost Item in a sentence

The Contractor cannot seek payment for the Prime Cost Item, or the contracted service covered by the Provisional Sum, until the progress claim following the incorporation of the item in the Works or following the completion of the said contracted service.
PLUS Contractor’s margin (state $ amount or % to be added) Total for Prime Cost Item (incl.
The Contractor cannot seek payment for the Prime Cost Item, or the contracted service covered by the Provisional Sum, until the progress claim following the incorporation of the item in the Works or following the completion of the said contracted services.
If the actual cost of a Prime Cost Item or Provisional Sum Item is less than the Contractor’s estimate, the Contractor must deduct the difference, plus the margin, from the Contract Price.
The Contractor cannot seek payment for the Item until the next progress claim after the Prime Cost Item has been supplied and installed or the contracted services covered by the Provisional Sum have been completed.

More Definitions of Prime Cost Item

Prime Cost Item means an amount of money included in the Contract Sum to cover the purchase by the Builder or the Owner of a specified item.

Prime Cost Item means any item noted in the Prime Cost Items Schedule to this Contract and as contemplated by Conditions 4 and 17.

Prime Cost Item means any item noted in the Prime Cost Items Schedule to this Contract and as contemplated by Condition 16.

Prime Cost Item means an item that either has not been selected, or the price of which is not known, at the time this contract is entered into, and for which the cost of supply, delivery and installation the Contractor must make a reasonable allowance for in this contract.

Prime Cost Item means any item noted in the Prime Cost Items Schedule in the Appendix to the Contract Schedule and as contemplated by Condition 10.

Prime Cost Item means any item noted in the Prime Cost Items Schedule and as contemplated by Condition 12.

Prime Cost Item means an item (for example, a fixture or fitting) that either has not been selected or whose price is not known at the time which this Contract is entered into and for the cost of supply and delivery which the Builder has made allowance for in the Contract Price.