Provisional Sum Item definition
Examples of Provisional Sum Item in a sentence
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.
If the invoiced cost to the Contractor of a Provisional Sum Item exceeds or is less than the relevant Provisional Sum, the difference is to be added to or deducted from the Contract Sum as the case may require.
If, at the direction of the Supervising Officer under sub-clause 5.1(b) or by reason of the operation of clause 5.2, a Provisional Sum Item is deleted from the Services, the Fee must be reduced by the Provisional Sum corresponding to that Provisional Sum Item.
If the Supervising Officer has not given the Consultant a direction in respect of a Provisional Sum Item under clause 5.1 by the Date for Completion, then the Provisional Sum Item will be deemed to be deleted from the Services.
Where the Contractor is instructed by the Superintending Officer to execute or provide some or all of the Plant, materials, goods or work described as a Provisional Sum Item, the valuation relating to the instruction shall be in accordance with Clause 20.1 (unless otherwise provided in this Contract).
Where the Contractor is instructed by the Superintending Officer to execute or provide some or all of the Plant, materials, goods or work described as a Provisional Sum Item, the valuation of that instruction shall be made in accordance with Clause 20.1 (unless otherwise provided in this Contract).
Provisional Sum Items For each Provisional Sum Item, the Supervising Officer must give the Consultant a direction either: requiring the Consultant to perform the relevant Provisional Sum Item; or deleting it from this Agreement.
If the actual cost for a Provisional Sum Item is less than the Contractor’s estimate in the Provisional Sums Schedule, the Contractor must deduct the difference, plus the Contractor’s margin, from the Contract Price.
Provisional Sum Adjustments A Provisional Sum included in this Agreement is not itself payable by the Department but where, at the direction of the Supervising Officer under sub-clause 5.1(a), a Provisional Sum Item is performed or supplied by the Consultant, then the Fee must be adjusted by the deletion of the Provisional Sum to which the Provisional Sum Item relates and then by the addition of an amount agreed by the parties or, where not so agreed, as valued under clause 11.12.