Opinion of Cost Sample Clauses

Opinion of Cost. Cost control, and maintaining the overall project cost within the Owner’s project budget is a very important part of this project. Develop and maintain a detailed cost estimate throughout the final design of the work. Formal construction cost estimates shall be provided with the 60% and 90% and Bid-ready submittals. Promptly identify any cost impacts resulting from design decisions made by the Owner and communicate such impacts to Owner.
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Opinion of Cost. An engineer's opinion of probable construction cost will be developed on the 30% design level using present value dollars and will include a schedule of estimated quantities, unit prices, contingencies, and total construction cost for the project.
Sample 1
Opinion of Cost. Because ENGINEER's experience and qualifications, ENGINEER is in the best position to estimate Total Project Costs and Construction Cost. CITY shall rely on the opinions of probable Total Project Costs and Construction Cost provided by ENGINEER. ENGINEER cannot guarantee that proposals, bids or actual Total Project or Construction Costs will not vary from opinions of probable cost prepared by ENGINEER.
Sample 1
Opinion of Cost. When asked by a client to provide construction cost estimates for your project, avoid framing it as a “cost estimate” and instead offer to prepare “an engineer’s opinion of probable construction costs.” By referring to your work product as an opinion of probable construction cost, it reduces confusion between the information you are providing as a design engineer at the design stage of a project from cost estimates provided by contractors and estimators experienced in preparing detailed construction cost estimates. The engineer’s opinion of probable construction cost should define the sources and methodology used to develop that opinion, including when and where those sources were derived. The agreement should state that when providing a client with an engineer’s opinion of probable construction costs, there is no guarantee that the construction bids will come in at those costs. Provide a statement with the opinion that contractors base their bids on their in-house experience, price quotes from selected subcontractors and prevailing market conditions, all of which can change over time. Prevailing market conditions can include the number of bidders, fluctuations in the pricing and cost of materials and systems, contractor’s previous bid experience and whether bidders are already busy (or not). Contingencies should be included in the opinion of probable construction cost. Organizations such as the American Association of Cost Engineers International provide guidelines for how much contingency to include at various phases of the project. If the client needs construction cost estimates they can rely upon, recommend the engagement of a professional construction cost estimator or a contractor. Do not appear or take on the role of a financial advisor unless you are so qualified and in compliance with local, state, and federal regulations including the Xxxx-Xxxxx Act and have checked coverage with your agent/broker.
Sample 1

Related to Opinion of Cost

  • Opinion of Counsel The Indenture Trustee shall receive at least seven days prior written notice when requested by the Issuer to take any action pursuant to Section 8.04(b), accompanied by copies of any instruments involved, and the Indenture Trustee shall also require, as a condition to such action, an Opinion of Counsel, in form and substance satisfactory to the Indenture Trustee, stating the legal effect of any such action, outlining the steps required to complete the same, and concluding that all conditions precedent to the taking of such action have been complied with and such action will not materially and adversely impair the security for the Notes or the rights of the Noteholders in contravention of the provisions of this Indenture; provided, however, that such Opinion of Counsel shall not be required to express an opinion as to the fair value of the Trust Estate. Counsel rendering any such opinion may rely, without independent investigation, on the accuracy and validity of any certificate or other instrument delivered to the Indenture Trustee in connection with any such action.

  • Determination of Cost The Design Professional shall review the Contractor’s proposed cost of the work, time to complete, effect upon the Overall Progress Schedule, and effect upon time dependent costs, and provide appropriate comments within fourteen calendar days concerning such proposed costs and expenses.

  • Opinion of Probable Cost Any opinions of probable Project cost or probable construction cost provided by Engineer are made on the basis of information available to Engineer and on the basis of Engineer’s experience and qualifications and represents its judgment as an experienced and qualified professional engineer. However, since Engineer has no control over the cost of labor, materials, equipment or services furnished by others, or over the contractor(s’) methods of determining prices, or over competitive bidding or market conditions, Engineer does not guarantee that proposals, bids or actual Project or construction cost will not vary from opinions of probable cost Engineer prepares.

  • Opinion of Counsel for Company At Closing Time, the Representative shall have received the favorable opinion, dated as of Closing Time, of Xxxxxx, Xxxxx & Xxxxxxx LLP, counsel for the Company, in form and substance satisfactory to counsel for the Underwriters, together with signed or reproduced copies of such letter for each of the other Underwriters to the effect set forth in Exhibit A hereto and to such further effect as counsel to the Underwriters may reasonably request.

  • COLLECTION OF COST-SHARE (a) The PHP agrees to collect from the beneficiary or the parents or guardian of the beneficiary only those amounts applicable to the patient’s cost-share (copayment) as defined in 32 CFR 199.4, and services and supplies which are not a benefit.

  • Opinions of Cost Because the Consultant does not control the cost of labor, materials, equipment or services furnished by others, methods of determining prices, or competitive bidding or market conditions, any opinions rendered as to costs, including but not limited to the costs of construction and materials, are made solely based on its judgment as a professional familiar with the industry. The Consultant cannot and does not guarantee that proposals, bids or actual costs will not vary from its opinions of cost. If the Client wishes greater assurance as to the amount of any cost, it shall employ an independent cost estimator. Consultant's services required to bring costs within any limitation established by the Client will be paid for as Additional Services.

  • Allocation of Costs The Fund shall pay the cost of composition and printing of sufficient copies of its Prospectus and SAI as shall be required for periodic distribution to its shareholders and the expense of registering Shares for sale under federal securities laws. You shall pay the expenses normally attributable to the sale of Shares, other than as paid under the Fund's Distribution Plan under Rule 12b-1 of the 1940 Act, including the cost of printing and mailing of the Prospectus (other than those furnished to existing shareholders) and any sales literature used by you in the public sale of the Shares and for registering such shares under state blue sky laws pursuant to paragraph 8.

  • Certification of Coverage Engineer shall furnish County with a certification of coverage issued by the insurer. Engineer shall not cause any insurance to be canceled nor permit any insurance to lapse. In addition to any other notification requires set forth hereunder, Engineer shall also notify County, within twenty-four (24) hours of receipt, of any notices of expiration, cancellation, non-renewal, or material change in coverage it receives from its insurer.

  • Evidence of costs Network Rail shall provide such evidence of such costs as are referred to in paragraph 4.2 as the Train Operator shall reasonably request. Schedule 7 (Track Charges and other payments)

  • Mitigation of costs and damage The Affected Party shall make all reasonable efforts to mitigate or limit the costs and damage arising out of or as a result of breach of Agreement by the other Party.

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