Direct Purchases definition
Examples of Direct Purchases in a sentence
Prior to the final payment, a final reconciliation of Owner Direct Purchases against the GMP will be performed and such deductive Change Order will be prepared for Owner’s review and approval.
Within thirty (30) days after the GMP is established, Construction Contractor will process one (1) or more deductive Change Orders under the Contract for the entire estimated amount of Owner Direct Purchases, inclusive of sales taxes.
With respect to all Direct Purchases by Owner, Contractor shall remain responsible for coordinating, ordering, inspecting, accepting delivery, storing, handling, installing, warranting and quality control for all Direct Purchases.
With respect to all Direct Purchases by Owner, Construction Contractor shall remain responsible for coordinating, ordering, inspecting, accepting delivery, storing, handling, installing, warranting and quality control for all Direct Purchases, and such obligations shall remain subject to the Bonds.
Notwithstanding anything herein to the contrary, Contractor expressly acknowledges and agrees that all Direct Purchases shall be included within and covered by Contractor’s warranty to Owner to the same extent as all other warranties provided by Contractor pursuant to the terms of the Contract Documents.
Owner shall assign to Construction Contractor any and all warranties and rights Owner may have from any manufacturer or supplier of any such Direct Purchases by Owner.
A Change Order shall be processed promptly after each Direct Purchase, or group of similar or related Direct Purchases, unless otherwise mutually agreed upon between Owner and Contractor.
Construction Contractor acknowledges that Owner’s target savings to be achieved by Owner Direct Purchases of construction materials and equipment is twenty-five percent (25%) of the Contract Amount.
Owner Direct Purchases - showing Owner direct purchase commitments, payments, sales tax savings, balance to be paid, deductive change order reference and pay application line reference.
New coating and/or wrapping shall be considered a component of the Materials and priced in accordance with Sections IV.1 (Direct Purchases) or IV.2.A (Pricing), as applicable.