Compensable Delay Formula Sample Clauses
The Compensable Delay Formula clause defines how financial compensation is calculated when a project is delayed due to reasons attributable to the party responsible for payment, such as the owner or client. Typically, this clause outlines the specific method or formula used to determine the amount owed to the contractor for additional costs incurred, such as extended overhead, labor, or equipment expenses, during the period of delay. By providing a clear and agreed-upon calculation method, this clause ensures fairness and reduces disputes over compensation for delays that are not the contractor's fault.
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Compensable Delay Formula. If there is a compensable delay, the Contractor’s total entitlement for the compensable delay damages is the computed result of the following formula: Original Contract Amount divided by the Original Contract Time (in calendar days); the result of which is then multiplied by 0.05 and the result of which is multiplied by the number of calendar days of compensable days allowed under these General Conditions that are beyond the Contract Time. Notwithstanding any other provisions of these General Condition or the Construction Documents, to the extent the Contractor is entitled to receive a markup under Section 18.3, this Section 10.3.2 shall be inapplicable, and the markup provided under Section 18.3 shall be deemed to include all the compensable delay damages provided by this Section 10.3.2.
Compensable Delay Formula. To the extent of the compensable delay, the Contractor's total entitlement for all compensable delay damages is the computed result of the following formula: Contract Sum divided by Contract Time (in calendar days); the result of which is then multiplied by 0.05; and the result of which is multiplied by the number of calendar days of compensable days allowed under these General Conditions that are beyond the Contract Time. Notwithstanding any other