Additional Savings Before Final Project Acceptance Clause Samples
The "Additional Savings Before Final Project Acceptance" clause defines how any cost savings identified prior to the formal acceptance of a project are to be handled. Typically, this clause outlines the process for calculating and distributing savings that arise from efficiencies, reduced expenses, or other cost-reducing measures discovered during the project but before its official completion. For example, if a contractor completes work under budget or sources materials at a lower cost, the clause may specify whether these savings are shared between the parties or retained by one. Its core function is to provide a fair and transparent mechanism for allocating financial benefits realized before the project is finalized, thereby incentivizing cost-effective project management and reducing potential disputes over savings.
Additional Savings Before Final Project Acceptance. All Cost Avoidance realized by Customer that result from activities undertaken by Honeywell prior to Final Project Acceptance, including any utility rebates or other incentives earned as a direct result of the installed ECMs or Support Services provided by Honeywell, will be applied toward the Guaranteed Savings for the First Guarantee Year.
Additional Savings Before Final Project Acceptance. All energy and operational cost avoidance realized by CUSTOMER that result from activities undertaken by HONEYWELL prior to Final Project Acceptance shall be the property of the CUSTOMER. Any utility rebates or other incentives earned as a direct result of the Work by HONEYWELL will be the property of the CUSTOMER, to be used at the CUSTOMER’S discretion.
Additional Savings Before Final Project Acceptance. All energy and operational cost avoidance realized by CUSTOMER that result from activities undertaken by HONEYWELL prior to Final Project Acceptance, including any utility rebates or other incentives earned as a direct result of the installed Energy Conservation Measures or Support Services provided by HONEYWELL, will be applied toward the Guaranteed Savings for the First Guarantee Year.