Final Contract Sum definition

Final Contract Sum means the total sum which, subject to the provisions of the Contract, will have become payable to the Contractor by the Principal upon the completion of the work under the Contract and the performance of the obligations of the Contractor under the Contract;
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Final Contract Sum means the sum to be ascertained and paid in accordance with the provisions hereinafter contained for the execution of the Works in accordance with the Contract.
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Final Contract Sum means the sum to be ascertained by the Engineer and stated in the Final Certificate, to be paid by the Employer to the Contractor pursuant to Clause 69 in consideration of the execution of the Works in accordance with the Contract;
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Examples of Final Contract Sum in a sentence

  • The estimation of the Final Contract Sum can be affected by various circumstances, such as: (a) Changes in Quantities During construction, the ER should note any significant changes in quantities that have been identified and should record the additional expenditure or savings accruing as a result.

  • The total additional payment of potential omitted items and those omitted items which have already been valued should be properly reflected in the Final Contract Sum.

  • The Insured shall within three months of the expiration of the Period of Insurance furnish to the Company a declaration of the Final Contract Sum and if such sum shall differ from the Contract Sum the premium shall be adjusted accordingly subject to any minimum retained premium previously agreed.

  • The expressions "Constructional Plant", "Certificate of Completion", " Contract", "Contractor", "Contract Sum", "Final Contract Sum", “Hong Kong”, "Maintenance Period" "Site", "Specification" and "Works" shall bear the meaning ascribed to them in the Government of Hong Kong Special Administrative Region General Conditions of Contract for Civil Engineering Works/Building Works (1999 Edition).

  • The Insured shall within three months of the expiration of the Period of Insurance furnish to the Insurers a declaration of the Final Contract Sum and if such sum shall differ from the Contract Sum the premium shall be adjusted accordingly subject to any minimum retained premium previously agreed.

  • To arrive at the Estimated Final Contract Sum for the project, the Original Contract Sum is first listed, and then adjustments made for the following items.

  • Nota: The Architect should request the signature of an Amendment: do not accept a percentage fee based on the Final Contract Sum, thinking that whatever the additional services, they will be paid for by the application of the percentage fee rate to the Final Contract Sum.

  • The Final Certificate shall state the Final Contract Sum, which shall be the sum of the Cost Centre Values following their final adjustment and of the amounts finally decided by the Engineer to be due in respect of the matters identified in Clause 67.2(b).

  • The Contractor shall furnish Performance Bond in the amount of one hundred percent (100%) of the Contract Sum, and Payment Bond in the amount of one hundred percent (100%) of the Contract Sum and One Year Warranty Bond in the amount of ten percent (10%) of the Final Contract Sum, which is the cumulative amount that will have been paid to Contractor for all of the Work performed under the Contract once the Project has been completed and the Work has been accepted by the County.] B.

  • If the contractor completes the work in less than 3 months in advance in all respects with respect to the final date of completion stated in the “Appendix to Condition of Contract” and the Chief Engineer certifies in writing that in his opinion the same has been completed, 0.1% of Final Contract Sum stipulated in the original contract shall be rewarded.


More Definitions of Final Contract Sum

Final Contract Sum. : shall mean the sum to be paid by the OWNER to the CONTRACTOR for executing the work and shall be computed on the basis of actual net quantities of various items of work executed at the applicable rates as per the schedule of items/quantities/rates forming part of the Agreement.
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Final Contract Sum means the amount finally due under the Agreement from the Contractor to the Sub- Contractor or from the Sub-Contractor to the Contractor as the case may be after giving credit to the Sub- Contractor for the Price and after giving credit to the Contractor for all amounts previously paid by the Contractor and for all sums to which the Contractor is entitled under or in connection with the Agreement;
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Final Contract Sum means the sum to be ascertained by the Contract Administrator and stated in the Final Certificate, to be paid by the Authority to the Contractor pursuant to Clause 69 in consideration of the execution of the Works in accordance with the Contract;
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Related to Final Contract Sum

  • Contract Sum means the sum named in the letter of acceptance including Physical contingencies subject to such addition thereto or deduction there-from as may be made under the provisions hereinafter contained.

  • Original contract price means the award price of the contract; or, for requirements contracts, the price payable for the estimated total quantity; or, for indefinite-quantity contracts, the price payable for the specified minimum quantity. Original contract price does not include the price of any options, except those options exercised at the time of contract award.

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Total Contract Price means the total set out in "Tender Document Form: Contract Prices".

  • Total Contract Price/Project Cost/TCO means the price payable to Service Provider over the entire period of Contract for the full and proper performance of its contractual obligations.

  • Contract Schedule means a schedule to this Contract;

  • Total contract dollars means the final anticipated dollar value, including the dollar value of all options.

  • The Contract Price/Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Original contractor means a person, including an owner-builder, that contracts with an owner to provide preconstruction service or construction work.

  • Contract Price means the price payable to the supplier under the contract for the full and proper performance of his contractual obligations.

  • Individual contract plan means a subcontracting plan that covers the entire contract period (including option periods), applies to a specific contract, and has goals that are based on the offeror’s planned subcontracting in support of the specific contract, except that indirect costs incurred for common or joint purposes may be allocated on a prorated basis to the contract.

  • principal contractor means an employer appointed by the client to perform construction work;

  • The Contract Price/ Project Cost means the price payable to the Vendor under the Contract for the full and proper performance of its contractual obligations.

  • Project Schedule means a document that, with respect to each Phase of the Project, identifies, coordinates and integrates the anticipated design and construction schedules, the Contracting Authority’s and Owner's responsibilities, government authority reviews and other activities as are necessary for the timely completion of the Work.

  • Project Completion Schedule means the progressive Project Milestones set forth in Schedule-J for completion of the Project Highway on or before the Scheduled Completion Date;

  • Final Completion means the date determined and certified by A/E and Owner on which the Work is fully and satisfactorily complete in accordance with the Contract.

  • The Contract Price means the price payable to the Supplier under the Contract for the full and proper performance of its contractual obligations.

  • Disbursement Schedule means the disbursement schedule as set out in an FAA;

  • Contract Fee means the lump sum rates as outlined in Schedule ‘B’ – Quote Form.

  • Final Completion Certificate has the meaning set forth in Section 11.6.

  • Rent Schedule means a written schedule for the Mortgaged Property showing the name of each tenant, and for each tenant, the space occupied, the lease expiration date, the rent payable for the current month, the date through which rent has been paid, and any related information requested by Lender.

  • Final Completion Date means the date on which Final Completion occurs.

  • Contract Price(s) means the price(s) tendered by the contractor and accepted by the Council for the execution of the contract.

  • Completion Schedule means the fulfilment of the Related Services by the Supplier in accordance with the terms and conditions set forth in the Contract;

  • Construction Budget means the fully-budgeted costs for the acquisition and construction of a given parcel of real property (including, without limitation, the cost of acquiring such parcel of real property, reserves for construction interest and operating deficits, tenant improvements, leasing commissions, and infrastructure costs) as reasonably determined by the Parent in good faith.

  • Contract Start Date means the date specified in your Contract for Signature asthe date this Contract starts;