Examples of Construction Cost Estimate in a sentence
Throughout Project development, the Construction Cost Estimate prepared by the Consultantshall not exceed the Construction Cost Limit.
The Designer shall furnish a revised and final Construction Cost Estimate, current as of the date of the final bid document submission, including cost estimates for general conditions, overhead and profit, insurance, bonds, and all other items; provisional allowances for work not sufficiently designed at this phase; and allowances expressed as percentage rates for construction contingencies and escalation to the bid date.
If any estimate submitted to Owner exceeds previously approved estimates or the Construction Cost Estimate in the Development Budget, CM/GC shall make appropriate recommendations to the Owner and Design Professional.
If at any time the Design Professional's Estimate of Probable Construction Cost and the Construction Cost Estimate of the CM/GC, are, in the Owner's judgment, not reconcilable or exceed corresponding Components of the Project Budget, the Owner, the Design Professional and the CM/GC shall confer to resolve such differences; and if such differences cannot be resolved, to recommend to the Owner such actions as may be necessary or appropriate to resolve such differences.
At appropriate intervals prior to agreement on the GMP change order, the Design Professional shall review the Construction Cost Estimate provided by the CM/GC and with the CM/GC develop the Reconciled Construction Cost Estimate, consisting of a composite of the Design Professional's Estimate of Probable Construction Cost and the CM/GC's Construction Cost Estimate, each separately derived and each based upon the Program and design documents prepared by the Design Professional.