Contingency Costs Clause Samples
The Contingency Costs clause defines how unforeseen or unexpected expenses are managed within a contract. It typically outlines a set amount or percentage of the total project budget that is reserved to cover costs arising from events not anticipated during the initial planning, such as material price increases or delays due to weather. By establishing clear guidelines for the use and approval of these funds, this clause helps ensure that both parties are prepared for uncertainties, reducing disputes and financial risk if additional costs arise during the project.
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Contingency Costs. Contingency costs are not allowed. (See Eligible Costs) (NAME OF COUNTY, CITY, DISTRICT, OR OTHER LOCAL PUBLIC ENTITY) COUNTY OF (NAME), STATE OF CALIFORNIA RESOLUTION NO: PROTECTION AGREEMENT (NUMBER) FOR SERVICES FROM DATE TO DATE BE IT RESOLVED by the Board of Directors of the (NAME OF COUNTY, CITY, DISTRICT, OR OTHER LOCAL PUBLIC ENTITY), that said Board does hereby approve the agreement with the California Department of Forestry and Fire Protection dated (Month, day, year). This agreement provides (Type of service) during the State fiscal year (i.e. 2002/2003).
Contingency Costs. To the extent provided in the approved budget, contingency costs are generally allowable under the BIP. The Recipient’s use of federal award funds for contingency costs must be pre-approved by the Grants Officer prior to the Recipient drawing down federal award funds for such costs. A Recipient request to draw down federal award funds for contingency costs must NIST Financial Assistance Award Number: 66-08-I2208 Amendment: NEW Recipient: Government of Guam, Department of Administration
Contingency Costs. Contingency Costs are costs incurred by CM/GC that are payable from the Contingency Fund as provided in this Section, but payment of such costs shall not exceed the GMP Cost Category associated with the Contingency Fund.
Contingency Costs. Any contingency cost not covered by Article 4.4.5.
Contingency Costs. As provided in this Article 4.4.5, but only prior to the Design Builder’s Certificate of Material Completion, the Design-Builder shall be entitled to payment as a Construction Contingency Cost item, but not in the aggregate in excess of the Construction Contingency Component of its Component Change Order or GMP Change Order, as the case may be, as adjusted pursuant to Articles 4.4.6 and 4.4.7, all reasonable costs actually incurred prior to such Certificate of Material Completion incident to the performance of Work under this Contract, which are not otherwise reimbursed or recovered by it, which are not attributable to Design-Builder's gross negligence or willful misconduct, and for which records required hereunder are established contemporaneously with the incurring of such costs and are maintained, for the following Contingency Costs:
Contingency Costs. To the extent provided in the approved budget, contingency costs are generally allowable under the BIP. The Recipient’s use of federal award funds for contingency costs must be pre-approved NIST Financial Assistance Award Number: 23-08-I2204 Amendment: NEW Recipient: ConnectMaine Authority by the Grants Officer prior to the Recipient drawing down federal award funds for such costs. A Recipient request to draw down federal award funds for contingency costs must be made in writing to the Grants Officer, who shall approve or disapprove the Recipient’s request in writing.
Contingency Costs. A contingency of $1,000,000 has been added to this Agreement to cover any unanticipated costs over the term of the Agreement. Such costs may include but are not limited to wage equivalents, premiums, regulatory fees and overhead. Any such costs over the amount of $2,746,306.20 must be approved in advance by the Contractor. The Contractor’s total obligation including the contingency is $3,746,306.20.