Contingency Sum definition

Contingency Sum means the sum as defined and referred to in sub-clause 27.1(b)(i);
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Contingency Sum means the sum provided for work or expenditure which cannot be foreseen at the time the tender documents are issued.
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Contingency Sum means the sum that will be retained by the Council during each year which is equivalent to 5% of the levy collected.
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Examples of Contingency Sum in a sentence

  • The Consulting Engineer shall have the Client’s authority to issue Variation Orders which result in the expenditure of up to a nett value of 50% of the total Contingency Sum contained within the Contract Value, provided that, no one Variation Order exceeds 1% of such authorized allowance.

  • For the avoidance of doubt the Contingency Sum may only be used to meet such costs in exceptional circumstances, where these costs are directly linked to the Project Deliverables, and subject to the approval of the Partnership Steering Group and notification to the Delivery Body.

  • The use of the Contingency Sum must be approved by the Partnership Steering Group.

  • Scope of Works The contractor shall supply and install all materials and provide all plant, equipment, and safe means of access, scaffolding, platforms and labour necessary to carry out the works as detailed in the schedule of works: Contingency Sum The Contractor is to include in his tender price the sum as shown in respect of contingencies.


More Definitions of Contingency Sum

Contingency Sum means the sum provided for work or expenditure which cannot be foreseen at the time the tender documents are issued which sum may include provision for work to be executed or for materials or services to be supplied by a Nominated Sub-contractor.
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Related to Contingency Sum

  • contingency fee means any payment or other compensation that is contingent upon or is calculated upon the basis of a degree of success in soliciting or obtaining a Government contract or negotiating the whole or any part of its terms;

  • Contingency Fund means a monetary amount that continues month to month, if approved by a case manager, that is set aside in the Independent Choices Program service budget to purchase identified items that substitute for personal assistance.

  • Contingency reserve means the reserve established for the protection of policyholders against the effect of losses result- ing from adverse economic cycles.

  • Contingency operation means a military operation that results in the call or order to, or retention on, active duty of members of the uniformed services during a war or during a national emergency declared by the President or Congress.

  • Contingency means the identified and possible or already occurred fault of an element, including not only the transmission system elements, but also significant grid users and distribution network elements if relevant for the transmission system operational security;