Cost Plus Fee Sample Clauses
A Cost Plus Fee clause defines a payment structure where the contractor is reimbursed for actual project costs in addition to an agreed-upon fee, which may be a fixed amount or a percentage of costs. This arrangement typically covers direct expenses such as labor, materials, and equipment, with the fee serving as the contractor's profit or overhead. The clause is commonly used in projects where the full scope of work is uncertain, ensuring the contractor is compensated for all legitimate costs while providing an incentive to complete the work efficiently.
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Cost Plus Fee. Costs (charges) that are NOT identified on the Rate Schedule (Attachment B) will be compensated as a Cost Plus Fee. This type of cost is required due to unanticipated types of events that are within the Scope of the Contract but require specialized commodities and/or services. Cost Plus Fees must be approved IN ADVANCE, in writing or verbally by the OER On-Scene Coordinator and be noted on the DEP OER Daily Report Form (Attachment D). The Cost Plus Fee will NOT replace any line item identified on the Rate Schedule, the Cost Plus Fee will ONLY be approved for an unanticipated, out of the normal event type situation that is not identified on the Rate Schedule. The Department will accept an additional service fee percentage (%) to be included in the invoice of the APPROVED Cost Plus Fee commodity and/or service. This service fee percentage (%) identified below, is ONLY allowed on Department APPROVED Cost Plus Fees for the commodity and/or service, and the service fee percentage (%) may NOT be used for any line items on the Rate Schedule: • Cost Plus Fee invoices in an amount of less than $5,000.00, the service fee percentage (%) MAY NOT EXCEED three (3) percent (%) of the total Cost Plus Fee for that event. • Cost Plus Fee invoices in an amount of $5,001.00 or greater, the service fee MAY NOT EXCEED five
Cost Plus Fee. With the exception of the agreed upon by the Parties, in addition to the amount of reimbursement, ACME must pay SERVICECO amount (cost plus fee) calculated as 5% of the specific costs, including the amount of reimbursement.
Cost Plus Fee. 16. TO THE EXTENT NOT PROHIBITED BY APPLICABLE LAW, EACH OF THE PARTIES SHALL BE DEEMED TO HAVE BEEN COMPENSATED FOR ALL ACTIVITIES AND RISKS UNDERTAKEN HEREUNDER BY THE PAYMENTS PAID OR PAYABLE BY THE OTHER PARTY PURSUANT TO THE PROVISIONS OF SECTIONS 5 AND 6 OF THIS AGREEMENT. ACME, with prior advance notice, may inspect SERVICECO's facilities, materials and operations, directly related to the provision of Services hereunder, to ensure compliance with the established quality standards and usage policies. Payment Terms 6.1.