Contingency Allowance definition

Contingency Allowance means a portion of the Budget reserved by the Arts Commission for design, construction, installation or other related costs that, due to factors beyond the control of the Contractor, exceed the initial budget estimates.

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Contingency Allowance means the project contingency maintained for unforeseen expenses or cost overruns on capital works projects, as outlined in the Capital Works Cost Contingency Allowance Policy, available on the TI website.

Contingency Allowance means a portion of the Budget reserved by the Artist for design, construction, installation or other related costs that, due to factors beyond the control of the Artist, exceed the initial budget estimates. The contingency allowance may only be used if approved in advance by BART in writing.

Examples of Contingency Allowance in a sentence

• When approving Additional Services that are not included in Schedule A, the Client, at its sole discretion, may, in writing, set a limit on the monies from the Contingency Allowance that may be permitted for the requested Additional Services.

• The Engineer shall not be entitled to any payment from the Contingency Allowance unless the Engineer has satisfied this condition.

• The Construction Contractor acknowledges and agrees that any work which is to be charged against the contingency allowance that does not receive such prior written approval from the Owner shall be deemed to be part of Construction Contractor’s basic Work compensated within the GMP and not chargeable against the Owner’s Contingency Allowance.

• Use of the Contingency Allowance must be authorized in advance by Owner’s designated and authorized representative.

• An estimate of the cost for the entire Project, including Construction Cost, Soft Costs, and Contingency Allowance Account, etc., prepared by Broward Health and used as a basis for Broward Health’s financial planning.

• Additional Services shall be reimbursed under a Dedicated or Contingency Allowance Expenditure form after execution by Broward Health.

• Contractor’s use of the Contingency Allowance must be approved in advance in writing by Commission staff.

• Contingency Allowance Fees if identified or requested, are intended to allow the flexibility to continue the Project and Services, without the need for an Addendum for additional fees.

• The Budget, in addition to allowing for all costs anticipated for the design, fabrication, transportation and installation of the Artwork, shall also allow for a 10% Contingency Allowance.

• Such changes will be administered through the contractual procedures established for changes in the scope of the Work, including expenditures from the Owner’s Contingency Allowance, if any, Work Authorizations as modified by Change Order, and Contract Amendments or other modifications that impact the Guaranteed Maximum Price.

More Definitions of Contingency Allowance

Contingency Allowance means a sum of money that is included in the Contract Price to cover the cost of Contingent Services.

Contingency Allowance means a total maximum amount of $ (plus GST, if any) for CAPEX costs incurred by the Recipient as detailed in Appendix 1. If the Recipient requires part of the Contingency Allowance at a Completion Date, the Recipient will first obtain written approval of the portion being requested from the Ministry. Any agreed portion will be paid on the satisfactory completion of the relevant Project Deliverable; receipt of a Payment Request in accordance with clause 1 of Part 2 and the terms and conditions of this Agreement.

Contingency Allowance means a sum of money that is included in the contract price to cover the cost of materials, parts, or equipment rentals related to the Services in addition to those specified in the Contract, if any. This may also include subcontractors only if the subcontracted work is required to address unique issues directly related to the specified Services. The use of this Contingency Allowance may or may not be required.

Contingency Allowance means a portion of the Budget reserved by the TJPA for design, construction, installation or other related costs that, due to factors beyond the control of the Artist or General Contractor, exceed the initial budget estimates.

Contingency Allowance means an allowance of ten percent (10 %) of the Consultants’ fees, which has been included in the calculation of the Estimated Costs by the City.