Contingency, Contractor’s definition

Contingency, Contractor’s means an agreed upon amount, either lump sum or a percentage of the cost of the w ork, that is included in the GMP and to be used by the ▇▇▇▇ in accordance with the general p rovisions in the construction contract. Generally, contractor’s c ontingency recognizes that the drawings and specifications may still be less than 100% complete after the City’s final acceptance of GMP.
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Contingency, Contractor’s means an agreed upon amount, either lump sum or a percentage of the cost of the work, that is included in the GMP and to be used by the ▇▇▇▇ in accordance with the general provisions in the construction contract. Generally, contractor’s contingency recognizes that the drawings and specifications may still be less than 100% complete after the City’s final acceptance of GMP. Contingency, Owner’s means the owner may, at its discretion, order changes in the scope of the project. The owner’s contingency is an amount to cover changes initiated by the owner, which may be incorporated into the GMP as an allowance at the owner’s discretion. Construction Documents means collectively, the plans, specifications, details, drawings, change orders and other documents prepared by the design professionals that describe the scope of quality of the project and the materials, supplies, equipment, systems and any and all other elements required for construction of the work that are acceptable to the owner.
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Related to Contingency, Contractor’s

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