- PERCENTAGE FEE CALCULATION Sample Clauses

- PERCENTAGE FEE CALCULATION. The Architect's fee is a percentage, agreed on signature of the Appointment, applied to the final contract sum excluding VAT, as a result of the Final Payment Certificate for all building contracts and, if necessary, when carried out by the Client or others, increased by the basic cost of construction as if executed by a Contractor, To these fees are added the direct expenses and any specific disbursement as stipulated in clause C 5.6, unless special provision in Memorandum of Agreement. In the event of financial penalties under the provisions of clause C 5.4, the penalty amount is deducted from the fee amount. The fee amount is revised under the provisions in clause C 5.2 and re-assessed under the circumstances and the provisions in clause C 5.7. In the event of abandon of the Appointment, the fees due are calculated based on the value of the services recorded in the Fee Schedule of the Memorandum of Agreement, and their advancement. In case of abandon of the Appointment during construction, the fee rate is based on the total contract sum of building contracts awarded or alternatively, the amounts from the tender action. In case of abandon prior to awarding building contracts, the fee rate is based on the final estimate of the projected cost of construction excluding VAT, established by the Architect at the end of the Developed Design Stage or, if the Agreement is terminated prior to this Stage, the initial budget excluding VAT of constructions as estimated by the Architect. If necessary, the fee amount is increased by the compensation stipulated in clauses C 9.1.2 and C 9.3.