Examples of Construction Management Fee in a sentence
The operation of this subsystem shall provide sufficient timely cost data and detail to permit Construction Contractor to control and adjust the Project requirements, needs, materials, equipment and systems by building and site elements so that the Work will be completed at a cost which, together with the Construction Management Fee, will not exceed the GMP.
Construction Contractor guarantees that in no event shall the Construction Management Fee and the total Cost of the Work exceed the GMP, as the GMP may be adjusted pursuant to the terms herein for Change Orders and Construction Change Directives.
Construction Contractor agrees to provide Owner with a guaranteed maximum price proposal for the total sum of the Construction Management Fee plus the Cost of the Work within 45 days after the Construction Documents in Owner’s opinion are sufficiently completed by Design Professional and approved in writing by Owner.
The combined CM Construction Management Fee, Bonds & Insurance, CM Contingency, and Project Reserve (if any) will be shown on the Schedule of values as separate lines.
The Construction Management Fee shall be Construction Contractor’s total compensation for all overhead not reimbursable as Cost of the Work under Section 5.A. below, as well as Construction Contractor’s total profit for Construction Phase Services.