Common use of Contingency Management Clause in Contracts

Contingency Management. It is the desire of the Principal Representative to incorporate as many alternate bid items into the Project as reasonable and otherwise increase the Work to be performed by the Construction Manager, and all parties recognize that although the availability of funds will depend in part upon favorable market conditions, with thorough and careful planning, cost estimating and cooperation, funds may become available for the alternates through procurement at less than the Construction Manager's estimated cost therefore, together with savings through the unexpended portion of the bidding contingency.

Contingency Management. It is the desire of the Principal Representative to incorporate as many alternate bid items into the Project as reasonable and otherwise increase the Work to be performed by the Construction ManagerDesign/Build Entity, and all parties recognize that although the availability of funds will depend in part upon favorable market conditions, with thorough and careful planning, cost estimating and cooperation, funds may become available for the alternates through procurement at less than the Construction Manager's Design/Build Entity’s estimated cost therefore, together with savings through the unexpended portion of the bidding contingency.