Total Estimated Contract Price definition

Total Estimated Contract Price means the entire compensation payable to the Contractor for the Work where the estimated quantities and units are equal to the actual quantities and units of the Work. The Total Estimated Contract Price includes all profit, all costs of supervision, labour, materials, equipment, overhead, financing and all other costs and expenses incurred in performing the Work.
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Total Estimated Contract Price means the sum stated in Section4 - Remuneration. This amount is not a compensation or price that Company is obligated to pay Contractor; rather, this amount is an estimate and has relevance for purpose of determining the amount of Contractor’s performance bond and for Company’s internal administrative matters. If applicable, this sum may also be a “not-to- exceed” amount payable by Company to Contractor. Total Estimated Contract Price has the same meaning as “value of the Agreement Letter/Contract/PO” as such terms are referenced in the Administrative Guidelines. “VAT” means value added tax and any other tax of a similar
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Total Estimated Contract Price means the product of multiplying the Annual Compensation as defined herein by the Term.
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Examples of Total Estimated Contract Price in a sentence

  • If the Total Estimated Contract Price is higher than US$5,000,000 or Rp.50.000.000.000, Contractor shall cooperate with local medium businesses and/or local small businesses, including small cooperatives, by subcontracting a portion of certain Work.

  • If the Total Estimated Contract Price is higher than US$2,000,000 or Rp.20.000.000.000, Contractor shall cooperate with local small businesses, including small cooperatives by subcontracting a portion of certain Work.

  • Contractor shall not subcontract the whole of the Work or the primary component of the Work or more than fifty per cent (50%) of the Total Estimated Contract Price to another party.

  • The penalties are subject to all of the following: (a) the amount of these penalties shall be equal to zero point one per cent (0.1%) of the Total Estimated Contract Price or the value of any part of the Work that cannot be delivered in accordance with the requirement regarding timing for performance for each day (or any part of a day) that Contractor fails to comply with the requirement for timely performance, whichever is applicable.

  • Total Estimated Price (US$) $1,877,600 Table (1): Summary of Total Estimated Contract Price.

  • The Total Estimated Contract Price at the Effective Date is US $1,877,600 (United States Dollars One Million Eight Hundred Seventy Seven Thousand and Six Hundred only) as tabulated below.

  • In the event that errors are made by a bidder (a) in multiplying any unit price by the applicable estimated quantity to arrive at the Estimated Annual Charge or, (b) in totaling the Estimated Annual Charges to arrive at the Estimated Annual Contract Price or, (c) in totaling the Estimated Annual Prices to arrive at the total Estimated Annual Contract and the Total Estimated Contract Price, as required, based on the unit price on any such corrections.

  • The Total Estimated Contract Price is solely for the purpose of facilitating the comparison of Proposals.

  • Contractor shall provide to the Company, within 15 days from date of LOA, an irrevocable and unconditional Performance Bank Guarantee (PBG) equivalent to 3% of Total Estimated Contract Price (TECP) including all taxes and duties from any Nationalized scheduled bank or first class international bank as per format provided in Tender Document or any other form acceptable to Company, which shall be valid up to 90 days beyond the Contract Period.

  • Contractor shall provide to the Company, within 15 days from date of LOA, an irrevocable and unconditional Performance Bank Guarantee (PBG) equivalent to 10% of Total Estimated Contract Price (TECP) including all taxes and duties from any Nationalized scheduled bank or first class international bank as per format provided in Tender Document or any other form acceptable to Company, which shall be valid up to 90 days beyond the Contract Period.


More Definitions of Total Estimated Contract Price

Total Estimated Contract Price means the amount quoted as such by the Contractor in Contract Schedule 1 – Price Schedule as the estimated total amount of payment for the provision of the Services, to be payable by the Government to the Contractor by way of Charges in accordance with the provisions of the Contract for the purpose of tender evaluation and calculation of Contract Deposit;
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Total Estimated Contract Price means the total amount set out in Attachment #1 - Contract Prices.
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