NTE Amount Clause Samples
The NTE (Not-To-Exceed) Amount clause sets a maximum financial limit that a party, typically a client or customer, will pay for specified goods or services under a contract. In practice, this means that the service provider cannot bill or be reimbursed for costs exceeding the agreed-upon cap, regardless of actual expenses incurred during the project. This clause is commonly used in service agreements, construction contracts, or consulting arrangements to provide budget certainty and prevent unexpected cost overruns, thereby protecting the paying party from financial risk.
NTE Amount. The NTE Amount shall represent the Design-Builder’s reasonable, good faith estimate of the cost of the Preconstruction Work needed to complete the Design Documents to a level consistent with Section 7(b) of this Design-Build Term Sheet, which shall be based on: (a) Fully Loaded Hourly Rates for each type and level of personnel performing such Preconstruction Work, which shall be agreed to by the parties and incorporated in an exhibit to the DBA (which exhibit shall also include a breakdown of the components of the Fully Loaded Hourly Rates); (b) A list of reimbursable out-of-pocket expenses likely to be incurred in performing such Preconstruction Work (such as for authorized overnight travel, work-related vehicle mileage, document production, and other miscellaneous direct costs), which shall be agreed to by the parties and attached as an exhibit to the DBA; and (c) A list of reimbursable out-of-pocket expenses incurred in establishing and maintaining a Project office at a location determined by the Design-Builder at which the Authority personnel and consultants will be co-located. The NTE Amount shall be agreed to be the parties prior to executing the DBA and shall be in compliance with FHWA’s policies and Federal Acquisition Regulation (“FAR”) cost principles (including FAR-compliant audited indirect cost rates for engineering and design-related services). As part of such negotiation, the Design-Builder shall also provide the Authority with its then-current estimate of the costs of the Construction Work for the Project.
NTE Amount. The total not-to-exceed amount under this Contract for the Initial Term shall be Twenty-Six Million, Four Hundred and Eighty Thousand Dollars ($26,480,000). The total contractual not-to-exceed amount includes the payment amounts negotiated (reference Sections 4.6, 6.4, 6.8, and 6.10), plus additional not-to-exceed capacity should the City secure new resources.
NTE Amount. The not-to-exceed amount authorized by the District as the maximum compensation to the DBE for the design and construction of the Project included in the Agreement.
NTE Amount. Dial Development Services, Ltd. will bill the City on an Hourly basis for effort completed for a Not to Exceed amount of Two-hundred Thousand and 00/100 dollars ($200,000.00). The above fee schedule includes the scope of services described in this proposal for the “Various Projects” including Development or CIP projects. The proposed fee schedule shall cover the timeframe until the projects requested are fully completed or until a new contract and purchase order is executed, whichever occurs first. Future potential projects shall be considered on an individual project basis and may be added to the original agreement through additional task orders or amendments. Dial Development reserves the right to increase rates on subsequent scope of service proposals and task orders. The budget will be a Not to Exceed (NTE) total that would be added to the agreement as described above. Services will be billed out at the proposed hourly rates against the budget until the project is completed. For additional projects, Dial Development Services, Ltd. proposes to do a cursory review of each new set of plans provided by The City of Bastrop when The City of Bastrop is considering using our services. We will review proposed schedules, discuss the project with the Engineer and The City, and determine as much information as possible to provide an estimate for future projects that includes the standard scope of services at the proposed hourly rates. • Plan review services during the design phase. These can be considered at such time and as they are requested. • Additional time required on the project due to circumstances outside of our control, such as scheduling impacts, design conflicts, and significant changes to the project scope and/or duration will be performed at an additional cost to the proposed budget. Budget increases shall be executed via supplemental agreements to the original agreements that describe the reason(s) for the budget increase. • Project Safety, SWPPP, Site Security, Public Access, and Traffic Control requirements are the sole responsibility of the contractor awarded the project and are not included in the scope of services provided in this proposal. A good faith effort will always be made to notify the contractor of any deficiencies. • Submittal, RFI, and RFD approvals shall be performed by the design engineer or the City of Bastrop Engineering Department. Please feel free to contact us if you have any questions or concerns regarding this proposal. We a...
NTE Amount. This Contract is entered into by and between Contractor Name, (“Contractor”), and Maricopa County Special Health Care District d.b.a., Maricopa Integrated Health System (“MIHS”). The Contractor, for and in consideration of the covenants and conditions set forth herein, shall provide and perform the services as set forth below. All rights and obligations of the parties shall be governed by the terms of this document, its Exhibits, Attachments and Appendices, including any Subcontracts or Amendments as set forth herein. Section I – General Provisions Section IV – Compensation Provisions
NTE Amount. The not-to-exceed amount established by the District as the maximum compensation to the Design/Builder for the design and construction of the Project before the GMP has been approved by the District.
NTE Amount. The NTE Amount shall represent the Design-Builder’s reasonable, good faith estimate of the cost of the Preconstruction Work needed to complete the Design Documents to a level consistent with Section 7(b) of this Design-Build Term Sheet, which shall be based on: (a) Fully Loaded Hourly Rates for each personnel performing such Preconstruction Work, which shall be agreed to by the parties and incorporated in an exhibit to the DBA; (b) A list of reimbursable out-of-pocket expenses likely to be incurred in performing such Preconstruction Work (such as for authorized overnight travel, work-related vehicle mileage, document production, and other miscellaneous direct costs), which shall be agreed to by the parties and attached as an exhibit to the DBA; and (c) A list of reimbursable out-of-pocket expenses incurred in establishing and maintaining a Project office at a location determined by the Design-Builder at which the Authority personnel and consultants will be co-located. The costs in (a) through (c) shall be in compliance with Applicable Law, including FHWA’s policies and Federal Acquisition Regulation (“FAR”) cost principles (including FAR-compliant audited indirect cost rates for engineering and design-related services). The NTE Amount shall be agreed to be the parties prior to executing the DBA. As part of such negotiation, the Design-Builder shall also provide the Authority with its then-current estimate of the costs of the Construction Work for the Project.
NTE Amount. In consideration of Design/Builder’s obligations under the Contract Documents, Design/Builder will be compensated in an amount not-to-exceed XXXX XXXX Million XXXX Hundred Thousand and 00/100 Dollars ($XX,XXX,XXX.00), in accordance with the payment procedures set forth herein. Except as otherwise provided in the Contract Documents, the NTE Amount will fully compensate Design/Builder for all of the services required under the Contract Documents, including the scope of services described in this Contract, and Design/Builder will not seek additional compensation from District in excess of that amount.
8.1.1 The NTE Amount shall be superseded by the GMP and an amendment of this Contract to incorporate the GMP.
8.1.2 Any unused portion of the NTE Amount shall be considered as cost savings and retained by the District.
8.1.3 Any re-design or re-bidding to stay within the NTE Budget Amount shall be at no additional cost to the District.