Cost Plus Fixed Fee. Cost Plus Fixed Fee is the sum of the payroll costs, combined overhead, and other direct costs, plus the fixed fee.
Cost Plus Fixed Fee. The Owner shall compensate the CM on the basis of the CM’s cost plus fixed fee and in accordance with the terms and conditions of this Agreement as specifically as follows:
Cost Plus Fixed Fee. The Consultant shall submit a breakdown of costs by each item of work on the monthly invoice, and shall show the percent complete of each item of work, each milestone and percent complete of the entire Agreement. Progress payments will be made based on the invoiced cost less the fixed fee for the work satisfactorily completed for each billing period. Said payment shall not exceed the percent complete of the entire Agreement. Upon satisfactory completion of each milestone, full payment for all approved work performed for that milestone will be made including Fixed Fee.
Cost Plus Fixed Fee. The balance of the applicable fees provided for herewith will be paid to you upon approval by Agency and Client of all costs actually incurred and proper receipt of any documentation required, no sooner than thirty (30) days from invoice date.
Cost Plus Fixed Fee. Compensation for these services shall be Minn Water Cost plus a fixed professional fee, including Reimbursable Expenses times a factor of Plus Subconsultant Expenses times a factor of and per Minn Water's Definitions. The estimated compensation for services is $ plus a fixed fee of $ and for a total of $ . Direct Job Wages or Billing Rates for Time and Materials or Cost plus Fixed Fee contracts are subject to change to reflect adjustments in Minn Water salary levels. In the event services beyond those specified in the Scope of Services and not included in the compensation above are required, Minn Water shall submit a fee estimate for such services and a contract modification shall be negotiated and approved in writing by the Client prior to any effort being expended on such services. SCHEDULE OF PAYMENTS: It is understood that the undersigned Client is responsible for payment of all fees to Minn Water. Minn Water shall be paid monthly on the basis of invoices submitted. These invoices will be for the portion of the agreed upon compensation earned by Minn Water during that month. (Cost plus Fixed Fee will be for costs incurred during the invoice period plus the portion of the agreed upon fixed fee earned by Minn Water during that month. Lump Sum will be based on percent of effort completed as estimated by Minn Water). Minn Water shall be paid for all invoices within 30 days of submittal. In the event the Client disputes the invoice or any portion thereof, the undisputed portion shall be paid to Minn Water based on contractual terms. Invoices not in dispute and unpaid after 30 days shall accrue interest at the rate of one and one-half percent per month (or the maximum percentage allowed by law, whichever is the lesser). Invoice payment(s) delayed beyond 60 days shall give Minn Water the right to stop work without liability until payments are current. Non-payment beyond 70 days shall be just cause for termination by Minn Water. See Standard Provisions for payment address and collection of invoices unpaid after 60 days. EXECUTION: Execution of this document by duly authorized representatives of Minn Water and Client, including Minn Water’s Standard Provisions and any enumerated attachments, represents the entire Agreement between the parties hereto and supersedes all prior negotiations, representations, or agreements, either written or oral. This Agreement may be amended or modified by written instrument, but such instrument is valid only upon signature by bot...
Cost Plus Fixed Fee. Lynnwood shall pay compensation for satisfactory performance of the services on a Cost Plus Fixed Fee basis as described in Schedule B. The maximum amount payable is $ (WRITTEN AMOUNT), which includes a Management Reserve of $ (WRITTEN AMOUNT). The Management Reserve shall not be used without prior written request with justification and written authorization from Lynnwood.
Cost Plus Fixed Fee. A. Compensation for services rendered under this Agreement shall be paid as costs not to exceed $ plus a fixed fee of $ for a total of $ as set forth in CONSULTANT’S dated attached hereto as Attachment and incorporated herein by this reference.
Cost Plus Fixed Fee. A cost reimbursement payment method. The Consultant is reimbursed for the actual, supportable, cost incurred including salaries, overhead, and direct expenses. In addition the Consultant is paid an agreed-upon amount for a fixed fee (profit), based on the actual scope of work, including degree of risk, relative difficulty, size of job, and period of performance. This type of payment is suitable when the scope of work is fairly well defined. Detailed Scope of Services or Work. A clear, accurate, and detailed description of; the technical requirements for the services to be rendered, how the work must be conducted, how achievements will be assessed, and the obligations of both the Consultant and Sponsor.
Cost Plus Fixed Fee. If the consultant's total work-hour estimate exceeds XxxxXXX’s total work-hour estimate substantially, the work-hours must be evaluated. If negotiations are necessary, the IO needs to develop a breakdown by task of comparisons between XxxxXXX’s and the consultant team’s estimates. For those tasks which are outside an acceptable range, the consultant should provide detailed justification for their estimate, including all assumptions and production rates on a task-by-task basis. Using these tools, a negotiation position as to the reasoning for XxxxXXX’s estimate needs to be developed through internal discussions among all contributing team members prior to discussions with the Consulting team. PennDOT will allow a task entitled Project Management/Administration which will be used for unanticipated meetings and management of the work force. To arrive at the maximum work-hour limitation for this task, total all of the tasks in the Part other than this task and multiply that total by 5%. This task breaks down into 1.5% for unanticipated meetings and 3.5% for management of the work force. Both XxxxXXX’s and the consultant’s estimates need to identify all anticipated meetings with work-hours included in the appropriate tasks. Unanticipated meetings and management of the work force hours should not be included in both individual tasks and the Project Management/Administration task. Normally, the 3.5% portion for the Project Management includes hours for Open Plan. Under unusual circumstances, Open Plan can be broken out in a separate task. If Open Plan is broken out, Project Management should be limited to 3.5%. If the consultant's work-hour estimate is substantially lower than XxxxXXX's estimate, PennDOT will closely evaluate the consultant's proposal to ensure that the consultant can provide the required work and services at the proposed cost. If it is determined that the consultant understands the SOW adequately, the lower work-hour total will be accepted. However, if there is a misunderstanding of the SOW both the Technical and Price Proposals should be revised accordingly.
Cost Plus Fixed Fee. “Cost plus fixed fee” is a basis of payment that provides for reimbursement of allowable costs plus negotiated fixed fee. The fixed fee does not vary with the actual cost but may be adjusted as a result of changes in the work to be performed under the agreement. This basis of payment is utilized when the scope of work is definitive. The consultant assumes a greater risk and is required to complete a specific scope of work within a set dollar amount. The risk is directly tied to the written scope of work and man-day estimate. The elements of the project under the consultant’s contract must be completed at a not-to-exceed amount. If additional work by the consultant becomes necessary, official notification to the department is required. If Consultant Services and the Agreement Administrator determine that the Consultant needs to perform additional work, an appropriate payment would then be negotiated.
