Common use of Construction Contingency Clause in Contracts

Construction Contingency. The Guaranteed Maximum Price will contain a separately identified contingency factor (the "Construction Contingency") in the amount of $ . The Construction Contingency is not allocated to any particular item of the Cost of the Project, and is established for the Construction Manager's use as may be required for costs incurred in the Work from unforeseen causes or details which should have been anticipated by the Construction Manager at the time of the Owner's approval of the Guaranteed Maximum Price. Such unanticipated causes or details include, but are not limited to, refinement of details of design within the scope of standards, quality and quantities which are reasonably inferable from the Guaranteed Maximum Price documents, the correction of minor defects not relating to design, delays in receipt of materials due to the fault of the Construction Manager, corrections in the Work provided the Construction Manager has exhausted all reasonable means to obtain correction of same from the responsible Trade Contractor, labor and material overruns, and additional costs relating to Trade Contractor defaults, provided any such default is not due to the Owner's actions or failure to act, costs incurred by the Owner caused by the Construction Manager or Trade Contractors such as additional roof inspection, additional furniture move costs, furniture damage and costs associated with more than two (2) punch list visits to the same area. In the event the default of a Trade Contractor is due to the Owner's actions or failure to act, the Construction Manager will be entitled to an appropriate adjustment in the Guaranteed Maximum Price in accordance with the terms of this Agreement. The Construction Manager may utilize the Construction Contingency for any items within the Cost of the Project without the necessity of a Change Order, without constituting a Change in the Project, and without resulting in any change in the Guaranteed Maximum Price. At the conclusion of the project any remaining balance in the Construction Contingency becomes the property of the Owner. The Construction Contingency will not be used to increase the Construction Manager’s fee.

Appears in 3 contracts

Samples: Agreement Between Owner And, Agreement Between Owner And, Agreement Between Owner And

AutoNDA by SimpleDocs

Construction Contingency. The Within the Contractor’s Guaranteed Maximum Price will contain a separately identified contingency factor (“GMP”) the "Contractor shall maintain and control the Project’s Construction Contingency") in Contingency for the amount benefit of $ District. The Construction Contingency can be used for construction-related changes, subject to prior District authorization. Proposed change orders (“PCO”) for use of Construction Contingency funds shall be classified and tracked in one or more of the following categories: unforeseen site conditions (other than those contemplated in section 3.10.3 below) or cost increases arising from omissions remaining in the Contract Documents or other errors in the constructability review services provided under the Preconstruction Services Agreement. Any expenditure attributable to Contractor’s sole negligence, error, or omission shall be recoverable by District from Contractor, in which case District may withhold such amount from any outstanding funds due Contractor. The amount for Construction Contingency is included in the Guaranteed Maximum Price as an amount to be applied at Contractor’s discretion, to defray contractually allowable costs, including General Conditions and other Project Costs, for which the Contractor is not allocated otherwise entitled to any particular item of the Cost of the Project, and is established for the Construction Manager's use as may be required for costs incurred in the Work from unforeseen causes or details which should have been anticipated by the Construction Manager at the time of the Owner's approval of a Change Order increasing the Guaranteed Maximum Price. Such unanticipated causes or details Examples of allowable uses of Construction Contingency include, but are not limited to, refinement of details of design within the scope of standards, quality and quantities which are reasonably inferable from the Guaranteed Maximum Price documents, the correction of minor defects not relating to design, delays gaps in receipt of materials due to the fault buyout of the Construction ManagerWork, corrections excusable, non-compensable delays, errors in the Work provided the Construction Manager has exhausted all reasonable means to obtain correction of same from the responsible Trade Contractor, labor and material overruns, and additional costs relating to Trade Contractor defaults, provided any such default is not due to the Owner's actions or failure to act, costs incurred by the Owner caused by the Construction Manager negligence of the Contractor or its Trade Contractors such as additional roof inspectionContractors, additional furniture move costsTrade Contractors, furniture necessary increases to prior negotiated or awarded Trade Contracts or purchase orders, and cleanup or repair of damage and costs associated with more than two (2) punch list visits to the same areaWork not identifiable to a particular Trade Contractor. In the event the default of a Trade Construction Contingency is not to be used to defray costs for which Contractor is due to the Owner's actions or failure to act, the Construction Manager will be entitled to an appropriate adjustment increase in the Guaranteed Maximum Price in accordance with the terms of this Agreement. The Construction Manager may utilize the Construction Contingency for any items within the Cost of the Project without the necessity of a by Change Order, without constituting a Change in the Project, and without resulting in any change in the Guaranteed Maximum Pricesuch as for design changes or design corrections. At the conclusion of the project any remaining balance in Project, all unused portions of the Construction Contingency becomes shall be returned to the property of the Owner. The Construction Contingency will not be used to increase the Construction Manager’s feeDistrict via deductive change order.

Appears in 3 contracts

Samples: Construction Management Services Master Agreement, Construction Management Services Master Agreement, www.axiomanalytix.com

Construction Contingency. The Guaranteed Maximum Price will contain a separately identified contingency factor (the "Construction Contingency") in the amount of $ . The Construction Contingency is not allocated to any particular item of the Cost of the Project, and is established for the Construction Manager's use as may be required for costs incurred in the Work from unforeseen causes or details which should have been anticipated by the Construction Manager at the time of the Owner's approval of the Guaranteed Maximum Price. Such unanticipated causes or details include, but are not limited to, refinement of details of design within the scope of standards, quality and quantities which are reasonably inferable from the Guaranteed Maximum Price documents, the correction of minor defects not relating to design, delays in receipt of materials due to the fault of the Construction Manager, corrections in the Work provided the Construction Manager has exhausted all reasonable means to obtain correction of same from the responsible Trade Contractor, labor and material overruns, and additional costs relating to Trade Contractor defaults, provided any such default is not due to the Owner's actions or failure to act, costs incurred by the Owner caused by the Construction Manager or Trade Contractors such as additional roof inspection, additional furniture move costs, furniture damage and costs associated with more than two (2) punch list visits to the same area. In the event the default of a Trade Contractor is due to the Owner's actions or failure to act, the Construction Manager will be entitled to an appropriate adjustment in the Guaranteed Maximum Price in accordance with the terms of this Agreement. The Construction Manager may utilize the Construction Contingency for any items within the Cost of the Project without the necessity of a Change Order, without constituting a Change in the Project, and without resulting in any change in the Guaranteed Maximum Price. At the conclusion of the project any remaining balance in the Construction Contingency becomes the property of the Owner. The Construction Contingency will not be used to increase the Construction Manager’s 's fee.

Appears in 1 contract

Samples: Attachment A

Construction Contingency. The Guaranteed Maximum Price will contain a separately identified contingency factor (the "Construction Contingency") in the amount of $ $_ _. The Construction Contingency is not allocated to any particular item of the Cost of the Project, and is established for the Construction Manager's use as may be required for costs incurred in the Work from unforeseen causes or details which should have been anticipated by the Construction Manager at the time of the Owner's approval of the Guaranteed Maximum Price. Such unanticipated causes or details include, but are not limited to, refinement of details of design within the scope of standards, quality and quantities which are reasonably inferable from the Guaranteed Maximum Price documents, the correction of minor defects not relating to design, delays in receipt of materials due to the fault of the Construction Manager, corrections in the Work provided the Construction Manager has exhausted all reasonable means to obtain correction of same from the responsible Trade Contractor, labor and material overruns, and additional costs relating to Trade Contractor defaults, provided any such default is not due to the Owner's actions or failure to act, costs incurred by the Owner caused by the Construction Manager or Trade Contractors such as additional roof inspection, additional furniture move costs, furniture damage and costs associated with more than two (2) punch list visits to the same area. In the event the default of a Trade Contractor is due to the Owner's actions or failure to act, the Construction Manager will be entitled to an appropriate adjustment in the Guaranteed Maximum Price in accordance with the terms of this Agreement. The Construction Manager may utilize the Construction Contingency for any items within the Cost of the Project without the necessity of a Change Order, without constituting a Change in the Project, and without resulting in any change in the Guaranteed Maximum Price. At the conclusion of the project any remaining balance in the Construction Contingency becomes the property of the Owner. The Construction Contingency will not be used to increase the Construction Manager’s 's fee.

Appears in 1 contract

Samples: Sample Construction Management Contract

AutoNDA by SimpleDocs

Construction Contingency. The Guaranteed Maximum Price will contain a separately identified contingency factor (the "Construction Contingency") in the amount of $ $_______. The Construction Contingency is not allocated to any particular item of the Cost of the Project, and is established for the Construction Manager's use as may be required for costs incurred in the Work from unforeseen causes or details which should have been anticipated by the Construction Manager at the time of the Owner's approval of the Guaranteed Maximum Price. Such unanticipated causes or details include, but are not limited to, refinement of details of design within the scope of standards, quality and quantities which are reasonably inferable from the Guaranteed Maximum Price documents, the correction of minor defects not relating to design, delays in receipt of materials due to the fault of the Construction Manager, corrections in the Work provided the Construction Manager has exhausted all reasonable means to obtain correction of same from the responsible Trade Contractor, labor and material overruns, and additional costs relating to Trade Contractor defaults, provided any such default is not due to the Owner's actions or failure to act, costs incurred by the Owner caused by the Construction Manager or Trade Contractors such as additional roof inspection, additional furniture move costs, furniture damage and costs associated with more than two (2) punch list visits to the same area. In the event the default of a Trade Contractor is due to the Owner's actions or failure to act, the Construction Manager will be entitled to an appropriate adjustment in the Guaranteed Maximum Price in accordance with the terms of this Agreement. The Construction Manager may utilize the Construction Contingency for any items within the Cost of the Project without the necessity of a Change Order, without constituting a Change in the Project, and without resulting in any change in the Guaranteed Maximum Price. At the conclusion of the project any remaining balance in the Construction Contingency becomes the property of the Owner. The Construction Contingency will not be used to increase the Construction Manager’s 's fee.. Proposal C2360-12-002-RFP – Attachment A – Construction Management Contract Page 14 of 28

Appears in 1 contract

Samples: Sample Construction Management Contract

Time is Money Join Law Insider Premium to draft better contracts faster.