Basis for Construction Budget Clause Samples

Basis for Construction Budget. A/E's evaluations of IISD's Project Budgets and the A/E's preliminary estimates of Construction Cost and detailed estimates of Construction Cost, represent the A/E's best judgment as a design professional familiar with the construction industry and local market conditions. This Construction Budget shall not be exceeded unless the amount is approved by the IISD Board and changed in writing by IISD. When multiple campuses or sites are included in project, the Construction Budget for each campus or site shall not be exceeded unless approved by the IISD Board and changed in writing by IISD.