Method 2- Lump Sum Not to Exceed Adjustment Sample Clauses

Method 2- Lump Sum Not to Exceed Adjustment. Where the change in the Work involves items for which agreed-upon unit prices have not been established, General Contractor's proposal shall be based upon a detailed estimated fair cost of General Contractor's labor hours, material quantities, and equipment type and duration. In submitting the proposal, General Contractor shall use its ability and buying power to obtain the best possible prices from suppliers of material and equipment and from Subcontractors consistent with its general responsibility for the performance and completion of the Work. General Contractor shall submit, as backup documentation, a detailed breakdown of labor, material and equipment with the proposal, all to the satisfaction of the Board. To this end, General Contractor, when submitting such a proposal, is considered to have represented to the Board by the submittal that it has used the lowest prices obtained or obtainable from suppliers of material and equipment and from Subcontractors and that nothing has been added to the prices unless indicated in the proposal or billing. The Board has the option to obtain independent quotes from other contractors/suppliers and direct the General Contractor to use those contractors/suppliers to carry out the Work involved in the Change Order. Should General Contractor, at any time, without disclosing the fact, add or charge excessive amounts to a bill or proposal of any supplier of labor, material or equipment or to a bill or proposal of any Subcontractor, and should the Board act on the same or make payment on any Work covered by such proposal or billing, then, and in that event, the Board has the right to recover from General Contractor any such amounts as may have been so added and not disclosed. The recovery may be made by deducting the undisclosed additions from any payments due General Contractor, or by any and all other means available to the Board. General Contractor's proposal of cost for items of Work not covered by agreed-upon unit prices for additional Work ordered may include a charge for overhead and profit, together, of twelve percent (12%), to the extent that General Contractor performs the items of Work with General Xxxxxxxxxx's own forces. For deleted Work, the price shall be net cost (office and field overhead, insurance and bond premiums, for example, are not considered or allowed to be included in "net cost."). Where the items of Work involved in the change are performed by Subcontractors, their cost shall be similarly esta...
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Related to Method 2- Lump Sum Not to Exceed Adjustment

  • Non pre-priced Adjustment Factor To be applied to Work deemed not to be included in the CTC but within the general scope of the work:

  • Reallocation to a Class with an Equal Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position, the employee remains in the position and retains existing appointment status.

  • Reallocation to a Class with a Lower Salary Range Maximum 1. If the employee meets the skills and abilities requirements of the position and chooses to remain in the reallocated position, the employee retains existing appointment status and has the right to be placed on the Employer’s internal layoff list for the classification occupied prior to the reallocation.

  • Purchase Price and Method of Payment Buyer shall pay and Seller shall accept the purchase price for the Business as follows:

  • Supervisory Differential Adjustment 99. The Appointing Officer may adjust the compensation of a supervisory employee whose schedule of compensation is set herein subject to the following conditions:

  • First Year Wage Adjustment Effective July 1, 2017, all salary ranges and rates shall be increased by two percent (2.0%), rounded to the nearest cent. The compensation grids for classes covered by this Agreement are contained in Appendix E-1. Employees shall convert to the new compensation grid as provided in Section 2.

  • Reallocation to a Class with a Higher Salary Range Maximum Upon appointment to the higher class, the employee’s base salary will be increased to a step of the range for the new class that is nearest to five percent (5.0%) higher than the amount of the pre-promotional step, or to the entry step of the new range, whichever is higher.

  • Average Log Length and Payment Reduction If the average log length for all logs delivered under this contract is less than the average log length specified in the table in clause G-024.2, The amount of allowable payment reduction shall be calculated by multiplying the payment rate in P-028.2 by the total volume delivered, and the difference between the average length of logs delivered and the average log length specified in G-024.2, times 1% as follows: Log Length Payment Reduction = (B x V x L) x (.01) 1/10th) Where: B = Bid rate from P-028.2 clause V = total delivered log Volume L = Length in feet below specified average (rounded to nearest Average log length payment reductions calculated by the Purchaser must be approved by the State, prior to payment for the final billing period. Third-party scaling organization information is required to determine Xxxxxxxx mbf and Average log length for payment reduction purposes. Average log length is determined on a piece count basis. Value of log length price reduction will be derived from the applicable sort value as described in this contract. Scale information for determining Average log length for payment reduction eligibility must be obtained from roll-out scale. Truck-ramp, sample scaling, and/or bundle scaling information is not acceptable for determining eligibility. Purchaser’s exclusive remedy for below average log lengths shall be the payment reduction described in this clause, notwithstanding other provisions in the Uniform Commercial Code.

  • Annual Adjustment At the end of each Fiscal Year and following receipt by Manager of the annual accounting referred to in Article 10, an adjustment will be made to such annual account, if necessary and if available, so that the appropriate amount shall have been deposited in the Reserve.

  • CONTRACT PRICE/PRICE LIMITATION/ PAYMENT 5.1 The contract price, method of payment, and terms of payment are identified and more particularly described in EXHIBIT C which is incorporated herein by reference.

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