Cost of the Work means costs necessarily incurred by the Construction Manager in the proper performance of the Work. Such costs shall be at rates not higher than those customarily paid at the place of the Project except with prior consent of the Owner. The Cost of the Work shall include only the items set forth in this Article 6.
Cost of the Work means those costs described in Paragraph 11.2.
Cost of the Work means the direct costs necessarily incurred by CM@Risk in the proper performance of the Work. Cost of the Work may include direct labor costs, subcontract costs, costs of materials and equipment incorporated in the completed Work, costs of other materials and equipment, temporary facilities, building permit fees, materials testing, and related items. Cost of the Work shall not include CM@Risk’s Construction Fee, general conditions fee, taxes, bonds, or insurance costs.
Examples of Cost of the Work in a sentence
The Cost of the Work does not include the compensation of the Architect; the costs of the land, rights-of-way, financing, or contingencies for changes in the Work; or other costs that are the responsibility of the Owner.
Owner may, at its discretion, perform periodic audits of the Cost of the Work and any other reimbursable costs associated with the Project.
The Cost of the Work also includes the reasonable value of labor, materials, and equipment, donated to, or otherwise furnished by, the Owner.
Guaranteed Price which excludes Value Added Tax, is equal to the sum of the Cost of the Work (which includes the Contractor’s Design Contingency and the Contractor’s Fee) and the Cost of the Financing.
The City and Xxxxx-Xxxxxxx will execute a GMP Amendment to this contract once the City accepts the GMP proposal and the fee for the Construction Phase will be 1.95% of the Cost of the Work based upon the Construction Budget of $257,696,058.
More Definitions of Cost of the Work
Cost of the Work means the costs necessarily incurred by the Design- Builder in the proper performance of the Work and shall include only the following:
Cost of the Work means the following costs. The Cost of the Work shall include only those items necessarily and reasonably incurred by CM/GC in the proper performance of the Work and specifically identified in this Article 8, and only to the extent that they are directly related to the Project.
Cost of the Work or "Direct Cost” shall not include any of the following: • Payroll costs and other compensation of the Contractor's officers, executives, principals (of partnership and sole proprietorships), general managers, engineers, architects, estimators, lawyers, auditors, accountants, purchasing and contracting agents, expediters, timekeepers, clerks, and other personnel employed by the Contractor whether at the site or in its principal or a branch office for general administration of the Change Order Work and not specifically included in the agreed upon schedule of job classifications, all of which are to be considered administrative costs covered by the Contractor's allowance for overhead and profit. • Extraordinary fringe benefits not specifically identified above. • Expenses of Contractor's principal and branch offices other than the Contractor's office at the job site. • Any part of the Contractor's capital expenses, including interest on the Contractor's capital used for the Change Order Work and charges against the Contractor for delinquent payments. • Costs due to the negligence of the Contractor, any Subcontractor, or anyone directly or indirectly employed by any of them or for whose acts any of them may be liable, including, but not limited to, the correction of defective Work, disposal of materials or equipment wrongly supplied, and making good any damage to property. For all changes, the Contractor shall submit an itemized cost breakdown, together with supporting data in such detail and form as prescribed by the Architect. When a credit is due, the amount of credit to be allowed by the Contractor to the Owner for any such change which results in a net decrease in direct cost will be the amount of the actual net decrease in direct cost as determined by the Architect plus the actual reduction in overhead and profit. When both additions and credits are involved in any change, the combined overhead and profit shall be calculated on the basis of the net change, whether an increase or decrease. In any event, the minimum detail shall be an itemization of all man-hours required by discipline/trade with the unit cost per man-hour and total labor price, labor burden equipment hours and rate for each piece of equipment, material by units of measure and price per unit, other costs specifically itemized, plus the overhead and profit allowance. The allowance for combined overhead and profit included in the total cost to the Owner shall be based upon the following sch...
Cost of the Work means the costs and discounts specified in ARTICLE 8.
Cost of the Work means those costs as set forth in Section 14.2 of this Contract.
Cost of the Work means the actual cost of all Work provided by Contractor under the Contract which is subject to payment or reimbursement by Owner, unless otherwise provided in the Agreement.
Cost of the Work has the meaning given to it in the Construction Contract.