Schedule of Values definition

Schedule of Values means the detailed breakdown of the cost of the materials, labor, and equipment necessary to accomplish the Work as described in the Contract Documents, submitted by Contractor for approval by Owner and A/E.

Schedule of Values means a written breakdown allocating the total Contract Sum to each principal category of Work, in such detail as requested by Owner.

Schedule of Values means the detailed breakdown of the cost of the materials, labor and equipment necessary to accomplish the Work as described in the Contract Documents, submitted by Contractor for approval by Owner and A/E.

Examples of Schedule of Values in a sentence

• The final Schedule of Values will be added to the Design-Build Agreement as Exhibit 4B.

• If Subcontractor fails to provide a schedule of values (or fails to make revisions required by Contractor, Owner, and/or Architect) Contractor may create (or revise) a Schedule of Values for Subcontractor to use in xxxxxxxx.

• Subcontractor agrees that if it fails to use the schedule of values in its pay applications, Contractor may i) decline to bill Subcontractor’s work or ii) bill Subcontractor’s work to Owner (and distribute Owner payments to Subcontractor) using a Schedule of Values which Contractor creates.

• When approved by the Commission Representative, the Schedule of Values will be used as a basis for certificates of payment unless it is found to be in error.

• The Schedule of Values will list the value for each construction activity broken down by materials and labor to be included in the Schedule.

More Definitions of Schedule of Values

Schedule of Values means an allocation of the entire Trade Contract Agreement among the various portions of the Trade Contractor Work as reasonably approved by the Authority and to be provided by the Trade Contractor.

Schedule of Values means the detailed breakdown of the cost of the materials, labor, and equipment necessary to accomplish the Work, submitted by Contractor for approval by Owner and Design Professional.

Schedule of Values or “SOV” means a document jointly developed and approved by Consultant and the Owner reflecting portions of the Service Work Order Sum allotted for payment upon completion of the performance of various parts of the Work.

Schedule of Values means the detailed list of the value of each construction activity included in the Contract Price broken down by labor and materials that is submitted by the Design-Builder and approved by the Commission, as amended.

Schedule of Values means a detailed list of the work activities required for project construction; including costs allocated thereto to be utilized by the Architect/Engineer in progress payments. The schedule of values shall include all elements associated with fulfilling the requirements of the contract; bonds, insurance, etc.; major items of material or equipment.

Schedule of Values means Contractor’s statement reflecting the portions of the Contract Sum allocated to the various portions of the Work and, when approved by Owner, used as the basis for reviewing and processing Applications for Payment, in accordance with Section 6.2 of these General Conditions.

Schedule of Values means the values allocated to materials and various portions of the Work, prepared in such form, and supported by such data to substantiate its accuracy as City may require.