Indirect Pricing definition
Indirect Pricing means the costs associated with the following work and calculated as percentages of the total estimated direct costs of the Project applied as a percentage to the direct costs of the Project as illustrated below: Soft Costs Design Oversight 3.0% $ 195,466 Construction Management 6.0% $ 390,932 Project Administration 1.3% $ 84,702 Contract Administration 1.8% $ 117,280 Project Bonding 1.2% $ 78,186 Initial Training 0.4% $ 26,062 Commissioning 1.5% of $4,571,810 $ 68,577 Initial M&V at Construction 0.8% $ 52,124 Total Soft Costs 15.55% $ 1,013,329 Overhead and Profit Applied to Direct Pricing and Soft Costs Overhead 12.0% $ 903,463 Profit 10.0% $ 752,886 Total Overhead and Profit 22.0% $ 1,656,349
Examples of Indirect Pricing in a sentence
The Contract Cost shall be comprised of the sum of the Direct Pricing plus the Indirect Pricing plus the cost of Preconstruction Services described in Section 1(a)(i) of this Agreement of Two Hundred Eighty One Thousand One Hundred Thirty-Six Dollars ($281,136).