Contract Sums Clause Samples
The 'Contract Sums' clause defines the total amount of money that the client agrees to pay the contractor for the completion of the specified work under the contract. This clause typically outlines how the contract sum is calculated, whether as a fixed price, a schedule of rates, or based on measured quantities, and may specify when and how payments are to be made. By clearly stating the agreed financial terms, the clause ensures both parties understand the payment obligations, reducing the risk of disputes over compensation and providing a clear basis for managing changes or variations to the work.
Contract Sums. Owner may choose to establish separate Contract Sums for each phase of the Project and, if so, Contractor shall cooperate to prepare and timely deliver to Owner when due such Contract Sums as set forth in the Project Schedule.
Contract Sums. Amounts paid or payable under the Contracts.
Contract Sums. Amounts paid or payable under any Service Contracts, future room bookings and similar agreements relating to the operation of the Project;
Contract Sums. The cost to perform the work contemplated by this Agreement is $22,724.00 annually, payable: Select Payment Option (initial) - $22,276.00 per year (2% discount)