Control Estimate Sample Clauses
A Control Estimate clause defines the process and standards for preparing a detailed cost estimate at a specific stage of a project, typically before major commitments are made. It outlines the required level of detail, the parties responsible for preparing and reviewing the estimate, and the procedures for updating or revising it as the project progresses. This clause ensures that all stakeholders have a clear, agreed-upon understanding of anticipated costs, thereby supporting informed decision-making and helping to manage budget risks throughout the project.
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Control Estimate. § 13.2.1 Where the Contract Sum is the Cost of the Work, plus the Contractor's Fee without a' Guaranteed Maximum Price pursuant to the Work Order, the Contractor shall prepare and submit to the Owner a Control Estimate within 14 days of executing the Work Order. The Control Estimate shall include the estimated Cost of the Work plus the Contractor's Fee.
§ 13.2.2 The Control Estimate shall include:
1. the Contract Documents enumerated in the Work order, including all Modifications thereto;
2. a list of the assumptions made by the Contractor in the preparation of the Control Estimate to supplement the information provided by the Owner and contained in the Contract Documents;
3. a statement of the estimated Cost of the Work organized by trade categories or systems and the Contractor's Fee;
4. a project schedule upon which the Control Estimate is based, indicating proposed Subcontractors, activity sequences and durations, milestone dates for receipt and approval of pertinent information, schedule of shop drawings and samples, procurement and delivery of materials or equipment, the Owner's occupancy requirements, and the date of Substantial Completion; and
5. a list of any contingency amounts included in the Control Estimate for further development of design and construction.
§ 13.2.3 When the Control Estimate is acceptable to the Owner and Architect, the Owner shall acknowledge it in writing. The Owner's acceptance of the Control Estimate does not imply that the Control Estimate constitutes a Guaranteed Maximum Price.
§ 13.2.4 The Contractor shall develop and implement a detailed system of cost control that will provide the Owner and Architect with timely information as to the anticipated total Cost of the Work. The cost control system shall compare the Control Estimate with the actual cost for activities in progress and estimates for uncompleted tasks and proposed changes. This information shall be reported to the Owner, in writing, no later than the Contractor's first Application for Payment and shall be revised and submitted with each Application for Payment.
§ 13.2.5 The Owner shall authorize preparation of revisions to the Contract Documents that incorporate the agreed-upon assumptions contained in the Control Estimate. The Owner shall promptly furnish such revised Contract Documents to the Contractor. The Contractor shall notify the Owner and Architect of any inconsistencies between the Control Estimate and the revised Contract Documents.
Control Estimate. 2.1 Where the Contract Sum is the Cost of the Work, plus the Contractor’s Fee without a Guaranteed Maximum Price pursuant to Section 3.3, the Contractor shall prepare and submit to the Owner a Control Estimate within 14 days of executing this Agreement. The Control Estimate shall include the estimated Cost of the Work plus the Contractor's Fee.
Control Estimate. § 15.2.1 Where the Contract Sum is the Cost of the Work, plus the Contractor’s Fee without a Guaranteed Maximum Price pursuant to Section 3.3, the Contractor shall prepare and submit to the Owner a Control Estimate within 14 days of executing this Agreement. The Control Estimate shall include the estimated Cost of the Work plus the Contractor's Fee. Not Applicable
§ 15.2.2 The Control Estimate shall include:
.1 the documents enumerated in Article 6, including all Modifications thereto;
.2 a list of the assumptions made by the Contractor in the preparation of the Control Estimate to supplement the information provided by the Owner and contained in the Contract Documents;
Control Estimate. § 15.2.1 Where the Contract Sum is the Cost of the Work, plus the Contractor’s Fee without a Guaranteed Maximum Price pursuant to Section 3.3, the Contractor shall prepare and submit to the Owner a Control Estimate within 14 days of executing this Agreement. The Control Estimate shall include the estimated Cost of the Work plus the Contractor’s Fee.
§ 15.2.2 The Control Estimate shall include:
.1 the documents enumerated in Article 6, including all Modifications thereto;
.2 a list of the assumptions made by the Contractor in the preparation of the Control Estimate to supplement the information provided by the Owner and contained in the Contract Documents;
.3 a statement of the estimated Cost of the Work organized by trade categories or systems and the Contractor’s Fee;
.4 a project schedule upon which the Control Estimate is based, indicating proposed Subcontractors, activity sequences and durations, milestone dates for receipt and approval of pertinent information, schedule of shop drawings and samples, procurement and delivery of materials or equipment the Owner’s occupancy requirements, and the date of Substantial Completion; and
.5 a list of any contingency amounts included in the Control Estimate for further development of design and construction.
§ 15.2.3 When the Control Estimate is acceptable to the Owner and Architect, the Owner shall acknowledge it in writing. The Owner’s acceptance of the Control Estimate does not imply that the Control Estimate constitutes a Guaranteed Maximum Price.
Control Estimate. § 2.2.1 At a time to be mutually agreed upon by the Owner and the Construction Manager and in consultation with the Architect, the Construction Manager shall prepare a Control Estimate using current information to update the most-recently prepared Preliminary Cost Estimate for the Owner’s review and acceptance. The Control Estimate shall be the sum of the Construction Manager’s estimate of the Cost of the Work and the Construction Manager’s Fee and shall include those items set forth in Section 2.2.4 below. When the Control Estimate is acceptable to the Owner, the Owner shall acknowledge it in writing. deve deve lopment by the lopment consistent t does not include h, if required, shall be
§ 2.2.2 The Construction Manager shall develop and implement a detailed system of cost control that will provide the Owner and Architect with timely information as to the anticipated total Cost of the Work. The cost control system shall compare the Control Estimate with the actual cost for activities in progress and estimates for uncompleted tasks and proposed changes. This information shall be reported to the Owner, in writing, no later than the Construction Manager’s first Application for Payment and shall be revised and submitted with each Application for Paymentmonthly.
§ 2.2.3 To the extent that the Drawings and Specifications are anticipated to require further Architect, the Construction Manager shall provide in the Control Estimate for such further with the Contract Documents and reasonably inferable therefrom. Such further developmen changes in scope, systems, kinds and quality of materials, finishes or equipment, all of whic incorporated in a revised Control Estimate by mutual agreement of the parties.
§ 2.2.4 The Control Estimate shall include
1 a list of the Drawings and Specifications, including all Addenda thereto, and the Conditions of the Contract;
.2 a list of the clarifications and assumptions made by the Construction Manager in the preparation of the Control Estimate, including assumptions under Section 2.2.3, to supplement the information provided by the Owner and contained in the Drawings and Specifications;
.3 a statement of the estimated Cost of the Work organized by trade categories or systems, allowances, and the Construction Manager’s Fee;
.5 a statement as to whether or not the duration from the stated date of commencement of the Construction Phase to the estimated date of Substantial Completion shall become the Contract Time and be subject to th...
Control Estimate. § 15.2.1 Where the Contract Sum is the Cost of the Work, plus the Contractor’s Fee without a Guaranteed Maximum Price pursuant to Section 3.3, the Contractor shall prepare and submit to the Owner a Control Estimate within 14 days of executing this Agreement. The Control Estimate shall include the estimated Cost of the Work plus the Contractor’s Fee.
§ 15.2.2 The Control Estimate shall include:
.1 the documents enumerated in Article 6, including all Modifications thereto;
.2 a list of the assumptions made by the Contractor in the preparation of the Control Estimate to supplement the information provided by the Owner and contained in the Contract Documents;
.3 a statement of the estimated Cost of the Work organized by trade categories or systems and the Contractor’s Fee;
.4 a project schedule upon which the Control Estimate is based, indicating proposed Subcontractors, activity sequences and durations, milestone dates for receipt and approval of pertinent information, schedule of shop drawings and samples, procurement and delivery of materials or equipment the Owner’s occupancy requirements, and the date of Substantial Completion; and
Control Estimate. B.
1.1 Where the Contract Sum is the Cost of the Work, plus the Design-Builder’s Fee without a Guaranteed Maximum Price pursuant to Section 4.3 of the Agreement, the Design-Builder shall prepare and submit to the Owner prior to the Design-Builder’s first Application for Payment, in writing, a Control Estimate. The Control Estimate shall include the estimated Cost of the Work plus the Design-Builder's Fee. The Control Estimate shall be used to monitor actual costs.
Control Estimate. § 5.2.1 The Contractor has prepared and the Owner has approved the Control Estimate attached to this Agreement as “Control Estimate” addendum. The Control Estimate includes the estimated Cost of the Work plus the Contractor’s