Value engineering change proposal definition

Value engineering change proposal means a cost reduction proposal based on value engineering submitted by the contractor pursuant to this chapter and particularly identified as such. (HAR §3-132-1)
Sample 1Sample 2Sample 3
Value engineering change proposal means a proposal that requires a modification to this Contract and results in reducing the Contract price or estimated cost without impairing essential function, characteristics, or quality of the work.
Sample 1Sample 2Sample 3
Value engineering change proposal means a cost reduction proposal based on Value Engineering submitted by the contractor pursuant to this section and particularly identified as such. B. Applicability. The provisions of this section shall apply to any BWS construction contract in excess of $100,000. The application of value engineering incentives shall not be construed to have an effect on the solicitation or the selection of a Contractor. The Contractor may develop and submit value engineering change proposals for drawings, designs, specifications, or other requirements of the contract. If any proposal is accepted and approved, in whole or in part, by the Officer-in-Charge, the contract shall be modified and shall include an equitable adjustment of the contract price in accordance with this section. This section shall not apply to any cost reduction proposal that is not identified as a value engineering change proposal by the contractor at the time of its submission to theOfficer-in-Charge.
Sample 1

More Definitions of Value engineering change proposal

Value engineering change proposal means a cost reduction proposal based on value engineering submitted by the contractor pursuant to this chapter and particularly identified as such. [Eff NOV 17 1997 ] (Auth: HRS §§103-49, 103D-202) (Imp: HRS §103-49)
Sample 1

Related to Value engineering change proposal

  • Superior Proposal has the meaning set forth in Section 5.09(a).

  • Benchmark Replacement Conforming Changes means, with respect to any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “Interest Period,” timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of breakage provisions, and other technical, administrative or operational matters) that the Agent decides may be appropriate to reflect the adoption and implementation of such Benchmark Replacement and to permit the administration thereof by the Agent in a manner substantially consistent with market practice (or, if the Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Agent determines that no market practice for the administration of such Benchmark Replacement exists, in such other manner of administration as the Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

  • Acquisition Proposal has the meaning set forth in Section 5.03(a).

  • SOFR Adjustment Conforming Changes means, with respect to any SOFR Rate, any technical, administrative or operational changes (including changes to the interest period, timing and frequency of determining rates and making payments of interest, rounding of amounts or tenors, and other administrative matters) that the Administrator decides, from time to time, may be appropriate to adjust such SOFR Rate in a manner substantially consistent with or conforming to market practice (or, if the Administrator decides that adoption of any portion of such market practice is not administratively feasible or if the Administrator determines that no market practice exists, in such other manner as the Administrator determines is reasonably necessary).

  • Technical Proposal means the Contractor’s Technical Proposal dated (Technical Proposal date).

  • Alternative Transaction Proposal means any offer, inquiry, proposal or indication of interest (whether binding or non-binding) to any Person or its shareholders relating to an Alternative Transaction.

  • Conforming Changes means, with respect to either the use or administration of Term SOFR or the use, administration, adoption or implementation of any Benchmark Replacement, any technical, administrative or operational changes (including changes to the definition of “Base Rate,” the definition of “Business Day,” the definition of “U.S. Government Securities Business Day,” the definition of “Interest Period” or any similar or analogous definition (or the addition of a concept of “interest period”), timing and frequency of determining rates and making payments of interest, timing of borrowing requests or prepayment, conversion or continuation notices, the applicability and length of lookback periods, the applicability of Section 3.05 and other technical, administrative or operational matters) that the Administrative Agent decides may be appropriate to reflect the adoption and implementation of any such rate or to permit the use and administration thereof by the Administrative Agent in a manner substantially consistent with market practice (or, if the Administrative Agent decides that adoption of any portion of such market practice is not administratively feasible or if the Administrative Agent determines that no market practice for the administration of any such rate exists, in such other manner of administration as the Administrative Agent decides is reasonably necessary in connection with the administration of this Agreement and the other Loan Documents).

  • Proposal means the Technical Proposal and the Financial Proposal.