Work Cost Estimate Clause Samples

The Work Cost Estimate clause defines the process and requirements for providing an estimated cost for the work to be performed under the contract. Typically, this clause outlines who is responsible for preparing the estimate, the level of detail required, and when the estimate must be submitted or updated. For example, a contractor may be required to submit a detailed breakdown of labor, materials, and other expenses before work begins. The core function of this clause is to ensure transparency and set clear expectations regarding project costs, helping both parties manage budgets and avoid disputes over unforeseen expenses.
Work Cost Estimate. Prior to the commencement of construction of any of the Tenant Improvements, Tenant shall submit to Landlord a written estimate of the cost to complete the Tenant Improvements, which written estimate will be based upon the Final Plans taking into account any modifications which may be required to reflect changes in the Final Plans required by the appropriate governmental authorities in connection with the issuance of a building permit (the "Work Cost Estimate"). Tenant may deliver one or more Work Cost Estimates respecting different segments of the Tenant Improvements. Notwithstanding the Work Cost Estimates, Tenant shall be solely responsible for payment of any costs to complete the Tenant Improvements in excess of the Allowance (as defined in Section 7 below).
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Work Cost Estimate. Prior to the commencement of construction of any of the Tenant Improvements, Landlord shall submit to Tenant a written estimate of the cost to complete the Tenant Improvements, which written estimate will be based upon the Final Plans taking into account any modifications which may be required to reflect changes in the Final Plans required by the appropriate governmental authorities in connection with the issuance of a building permit (the "Work Cost Estimate"). Tenant hereby acknowledges that Tenant has previously reviewed and approved that portion of the Tenant Improvement costs Telated to the construction of the 300' demising wall and the installation of an additional 2,000 Amps of electrical service to the Premises, all as more particularly set forth in that certain letter agreement between Landlord and Tenant dated November 15, 2000 which is attached hereto as Schedule 5, and that such costs shall be included in the Work Cost Estimate, in addition to the other costs related to the construction of the Tenant Improvements. Tenant will either approve the Work Cost Estimate, or disapprove specific items, and submit to Landlord revisions to the Final Plans in the form of a Change Order. Submission and approval of the Work Cost Estimate will proceed in accordance with the work schedule provided by Landlord. Upon Tenant's approval of the Work Cost Estimate (the "Work Cost Statement"), Landlord will have the right to purchase materials and to commence the construction of the items included in the Work Cost Statement. If the total costs reflected in the Work Cost Statement exceed the Allowance (as such term is defined in Section 9 below), Tenant shall pay such excess to Landlord in cash or by wire transfer of funds, within ten (10) days after Tenant's approval of the Work Cost Statement.
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Work Cost Estimate. Prior to the commencement of construction of any of the Tenant Improvements, Landlord shall submit to Tenant a written estimate of the cost to complete the Tenant Improvements, which written estimate will be based upon the Final Tenant Plans taking into account any modifications which may be required to reflect changes in the Final Tenant Plans required by the appropriate governmental authorities in connection with the issuance of a building permit (the "Work Cost Estimate"). Tenant will either approve in writing the Work Cost Estimate, or disapprove specific items, and submit to Landlord revisions to the Final Tenant Plans.. Submission and approval of the Work Cost Estimate will proceed in accordance with the work schedule provided by Landlord. Upon Tenant's approval of the Work Cost Estimate (the "Work Cost Statement"), Landlord will have the right to purchase materials and to commence the construction of the items included in the Work Cost Statement. If the total costs reflected in the Work Cost Statement exceed the Allowance (as defined in Section 10 below), Tenant shall pay such excess to Landlord in cash or by wire transfer of funds, within 10 business days of invoicing at fifty percent (50%) of such costs upon Tenants approvals of the Work Cost Statement and the remainder upon completion of the work, only to the amount in excess of the allowance set forth in Section 10 of this Work Letter.
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Work Cost Estimate. Prior to the commencement of construction of the Tenant Work described in the Final Plans, Contractor will submit to Landlord and Tenant a written estimate of the cost to complete the Tenant Work, which written estimate will be based on the Final Plans taking into account any modifications which may be required to reflect changes in the Finals Plans required by any governmental entity having jurisdiction over the Premises (the “Work Cost Estimate”). Tenant will either approve the Work Cost Estimate or disapprove specific items and submit to Landlord and Contractor revisions to the Final Plans to reflect deletions of and/or substitutions for such disapproved items. After submission and approval of the Work Cost Estimate, Contractor will have the right to purchase materials and to commence the construction of the items included in the Work Cost Estimate. If the total costs reflected in the Work Cost Estimate exceed the Construction Allowance described in Paragraph 5, Tenant agrees to pay such excess directly to its Contractor.
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Work Cost Estimate. Prior to the commencement of construction of any of the Tenant Improvements, Landlord shall submit to Tenant a written estimate of the cost to complete the Tenant Improvements, which written estimate will be based upon the Final Plans taking into account any modifications which may be required to reflect changes in the Final Plans required by the appropriate governmental authorities in connection with the issuance of a building permit (the “Work Cost Estimate”). Within three (3) business days following submission thereof to Tenant, Tenant will either approve the Work Cost Estimate, or disapprove specific items, and submit to Landlord revisions to the Final Plans, Upon Tenant’s approval of the Work Cost Estimate (the “Work Cost Statement”), Landlord will have the right to purchase materials and to commence the construction of the items included in the Work Cost Statement. ​ ​
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Work Cost Estimate. Following approval of the Design Development Drawings, Sublandlord shall submit to Subtenant a written estimate of the costs of the Tenant Improvements work (the "Work Cost Estimate"). Within two (2) business days after receipt of such estimate, Subtenant shall either approve the Work Cost Estimate, or disapprove specific items and submit to Sublandlord's Space Planner information necessary to prepare revisions of the Design Development Drawings to reflect the deletion of and/or substitution of such disapproved items. Any such deletions and/or substitutions shall be subject to Sublandlord's approval as hereinabove required. Following approval of the revised Design Development Drawings, Sublandlord shall submit to Subtenant a revised Work Cost Estimate. Failure of Subtenant to disapprove any items on a Work Cost Estimate within two (2) business days after receipt shall be deemed approval of such Work Cost Estimate by Subtenant. Subtenant acknowledges that the Work Cost Estimate is an estimate of the Tenant Improvement Costs, and that the contingency amount specified therein may not be sufficient to provide for all changes in the Tenant improvements and/or other unforeseen costs and expenses arising after Subtenant's approval thereof. Subtenant acknowledges that any request by Subtenant for above-standard improvements, as well as all change orders, will, more likely than not, result in the Tenant Improvements Costs exceeding the Improvements Allowance.
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Related to Work Cost Estimate

  • Cost Estimate The cost estimate shall set out the estimated costs for the proposed Change Order in such a way that a fair evaluation can be made. It shall include a breakdown for labor, materials, equipment and markups for overhead and profit, unless TxDOT agrees otherwise. If the work is to be performed by Subcontractors and if the work is sufficiently defined to obtain Subcontractor quotes, DB Contractor shall obtain quotes (with breakdowns showing cost of labor, materials, equipment and markups for overhead and profit) on the Subcontractor’s stationery and shall include such quotes as back-up for DB Contractor’s estimate. No markup shall be allowed in excess of the amounts allowed under Section 10.6. DB Contractor shall identify all conditions with respect to prices or other aspects of the cost estimate, such as pricing contingent on firm orders being made by a certain date or the occurrence or non-occurrence of an event.

  • Cost Estimates If this Agreement pertains to the design of a public works project, CONSULTANT shall submit estimates of probable construction costs at each phase of design submittal. If the total estimated construction cost at any submittal exceeds the CITY’s stated construction budget by ten percent (10%) or more, CONSULTANT shall make recommendations to CITY for aligning the Project design with the budget, incorporate CITY approved recommendations, and revise the design to meet the Project budget, at no additional cost to CITY.

  • Estimated Cost Estimated costs by construction phases for Specified Roads listed in A7 are stated by segments in the Schedule of Items. Such estimated costs are subject to adjustment under B3.3, B5.2, B5.21, B5.212, B5.25, and B5.26. Appropriately adjusted costs shall be made a part of a revised Schedule of Items and shown as adjustments to Timber Sale Account. The revised Schedule of Items shall supersede any prior Schedule of Items when it is dated and signed by Contracting Officer and a copy is furnished to Purchaser.

  • Project Cost An updated cost spreadsheet reflecting the current forecasted cost vs. the latest approved budget vs. the baseline budget should be included in this section. One way to track project cost is to show: (1) Baseline Budget, (2) Latest Approved Budget, (3) Current Forecasted Cost Estimate, (4) Expenditures or Commitments to Date, and (5) Variance between Current Forecasted Cost and Latest Approved Budget. Line items should include all significant cost centers, such as prior costs, right-of-way, preliminary engineering, environmental mitigation, general engineering consultant, section design contracts, construction administration, utilities, construction packages, force accounts/task orders, wrap-up insurance, construction contingencies, management contingencies, and other contingencies. The line items can be broken-up in enough detail such that specific areas of cost change can be sufficiently tracked and future improvements made to the overall cost estimating methodology. A Program Total line should be included at the bottom of the spreadsheet. Narratives, tables, and/or graphs should accompany the updated cost spreadsheet, basically detailing the current cost status, reasons for cost deviations, impacts of cost overruns, and efforts to mitigate cost overruns. The following information should be provided:

  • Estimated Costs The proposed GMP Change Order shall include separately identified dollar amounts, stated as fixed sums, for Actual Costs as estimated by the Design-Builder for the complete construction of the Project, which amount shall include the all Trade Contract and Subcontract Sums, costs of materials, and any Component Change Order Sums;