Fixed Limit definition
Examples of Fixed Limit in a sentence
In addition, these detailed costs estimates although prepared in the format of CSI division and subdivision, shall also be presented to the Owner in the above listed document packages and also subdivided in the Construction Manager bid package format prior to going out for bid with the first bid package, and shall comply with the Fixed Limit of Construction Cost included herein and with each separate component of the Fixed Limit of Construction Cost.
In accordance with Section 3.8.4, the Construction Manager shall promptly advise the Owner and the Design Professional if there are indications that the Fixed Limit of Construction Cost will not be met and make recommendations in accordance with Value Engineering procedures to reduce excess costs as detailed in Section 3.5.
The Fixed Limit of Construction Cost, referred to hereinafter as the FLCC, is the total dollar value of the sum of the project's anticipated base bid.
The sum, established by the Owner, as available for the entire Project, including but not limited to the construction budget (Fixed Limit of Construction Cost (“FLCC”)), land costs, costs of furniture, fixtures and equipment (FF&E), financing costs, compensation for all professional services, costs of Owner- furnished goods and services, contingency allowances and other similar established or estimated costs.
The Fixed Limit of Construction Cost, referred to hereinafter as the FLCC, is the total dollar value of the sum of the project's anticipated base bid (the project's essential scope) including design contingency.
The sum, established by the Owner, as available for the entire Project, including but not limited to the construction budget (Fixed Limit of Construction Cost (“FLCC”)), land costs, costs of furniture, fixtures and equipment (FF&E), financing costs, compensation for all professional services, costs of Owner-furnished goods and services, contingency allowances and other similar established or estimated costs.
The Design Professional will, as part of its Basic Services hereunder, include “alternates” to provide a mechanism to adjust Construction Cost so that they remain within the Fixed Limit of Construction Cost; provided, however, that such alternates will not compromise the Owner’s program for the Project.
In performing its design services, the Design Professional will use its best efforts to design the Project in a manner that has Construction Cost fall within the Fixed Limit of Construction Cost.
Nothing contained in this Agreement shall otherwise relieve the Architect/Engineer from the responsibility of providing the services required to keep the Project within the Fixed Limit of Construction Cost for the Project.
Accordingly, the Architect/Engineer cannot and does not warrant or represent that bids or negotiated prices will not vary from the Project Budget or the Fixed Limit of Construction Cost.