CONTRACTOR MARKUP definition

CONTRACTOR MARKUP. A fixed sum calculated as ten percent (10%) of applicable Allowable Costs incurred by Contractor or Subcontractor for performing Extra Work with its own forces, which is deemed to be full compensation for Contractor’s or Subcontractor’s indirect costs associated with Extra Work, including, overhead, profit, and other indirect costs not included in the Allowable Costs. Contractor Markup is separate from and does not include Subcontractor Markup as defined herein.
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CONTRACTOR MARKUP means the full amount of compensation for all costs and expenses including overhead and profit not included in the Allowable Costs, whether or not referred to in Article 7.2.5. Contractor Markup shall be computed as provided in Section 7.3 (Compensation for Extra or Deleted Work) of the Construction Contract. (i) For Work to be omitted by Change Order, the reduction of the Contract Sum shall be computed on the basis of one or more of the following: Unit prices stated in the Contract Documents or agreed upon by District and Contractor. (ii) A lump sum agreed upon by District and Contractor, based upon the estimated Allowable Costs that would have been incurred in performing the Deleted Work, plus Contractor Markup provided for in the Construction Contract. (iii) A sum unilaterally determined by District, if District and Contractor cannot agree upon one or both of the methods described in paragraphs (i) or (ii), above.
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CONTRACTOR MARKUP means the markup as bid by the Contractor. The Contractor Markup shall be inclusive of (i) all direct, indirect, fixed or variable costs and fees of any type or description incurred by Contractor including transportation, labor, and administrative fees, and (ii) overhead and profit.
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Examples of CONTRACTOR MARKUP in a sentence

  • Unit prices stated in the Contract Documents or agreed upon by City and Contractor, which shall be deemed to include all Allowable Costs, Contractor Markup and Subcontractor Markup.

  • A lump sum agreed upon by City and Contractor, based on the estimated Allowable Costs, Contractor Markup, and Subcontractor Markup computed in accordance with this Section.

  • Work performed on a time and materials basis shall be calculated as the sum of Allowable Costs, plus applicable Contractor Markup, as set forth herein.

  • Contractor Markup is separate from and does not include Subcontractor Markup as defined herein.

  • Work performed on a time and materials basis shall be calculated as the sum of Allowable Costs, plus applicable Contractor Markup, as set forth herein..

  • Complete As-constructed Record Drawings, prepared by the Design Professional, showing significant changes in the Project resulting from addenda, accepted or deleted alternates, field orders, change orders, construction change directives, bulletins, and/or from the Contractor Mark-up Set, including marked-up prints, drawings and/or other data generated by the Contractor during the course of construction of the Project.

  • Each candidate to be considered for an Assignment shall be introduced in a separate email containing, at a minimum: (i) candidate’s resume; (ii) the Salary Rate or Subcontractor Billing Rate, as applicable; (iii) the appropriate Contractor Mark-up, JBE Referral Mark-up, Subcontractor Mark-up, and/or discount, as applicable; (iv) the Billing Rate; (v) the Classification; and (vi) the applicable Conversion Period.

  • Complete As-constructed Record Drawings, prepared by the Design Professional, showing significant changes in the Project resulting from addenda, accepted or deleted alternates, field orders, change orders, construction change directives, bulletins, and/or from the Contractor Mark-up Set including marked-up prints, drawings and/or other data generated by the Construction Manager during the course of construction of the Project.

  • The Contractor shall also submit in writing to the State, notice of a decrease in the Contractor Markup reflecting any reductions in such taxes.

  • The Contractor Markup above the OPIS Rack Pricing or the Per-gallon price.


More Definitions of CONTRACTOR MARKUP

CONTRACTOR MARKUP means the markup as proposed by the Contractor. The Contractor Markup shall be inclusive of (i) all dye charges and any additives required to meet fuel performance specifications, (ii) all direct, indirect, fixed or variable costs and fees of any type or description incurred by Contractor including transportation, labor, and administrative fees, and (iii) overhead and profit.
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