Daywork definition
Examples of Daywork in a sentence
In the second step, the Procuring Entity will convert the amounts in various currencies in which the Tender Price is payable (excluding Provisional Sums but including Daywork where priced competitively) to the single currency identified above at the selling rates established for similar transactions by the authority specified and, on the date, stipulated above.
The terms and conditions pursuant to which each of the Rigs shall be used and operated shall be as set forth in the Drilling Bid Proposal and Daywork Drilling Contract (i) attached hereto as Exhibit “A” for a vertical well and (ii) attached hereto as Exhibit “B” for a horizontal well (in either event, the “Drilling Contract”).
The Contractor will be paid the actual net cost of construction equipment hired by him for Daywork and in addition will be paid a percentage allowance on the net cost of such hire, which allowance will cover the Contractor's own overhead costs and profit.
Tendered unit rates or unit rates that are agreed in terms of Sub-clause 6.5.1.3 of the General Conditions of Contract for the Contractor's own construction equipment used for Daywork shall cover the full cost of the use of such construction equipment and shall, in addition, cover the cost of operators, consumable stores, fuel and maintenance.
In the event the hole should be lost or damaged while Contractor is performing Work on a Daywork Basis, Company shall assume liability for damage to or destruction of Contractor’s in-hole equipment, including, but not limited to, drill pipe, drill collars, and tool joints, and Company shall reimburse Contractor for the value of any such loss or damage; the value to be determined by agreement between Contractor and Company as current repair or replacement cost of such equipment delivered to the wellsite.