Lump Sum definition

Lump Sum means the total sum which will have become payable to the Contractor by the Principal upon completion of the Works.
Lump Sum means the Contractor has agreed to provide the Goods for the total price as set out in the Contract.
Lump Sum when used as an item of payment will mean complete payment for the work described in the contract. When a complete structure or structural unit (in effect, "lump sum" work) is specified as the unit of measurement, the unit will be construed to include all necessary fittings and accessories. Rental of equipment will be measured by time in hours of actual working time and necessary traveling time of the equipment within the limits of the work. Special equipment ordered by the Engineer in connection with force account work will be measured as agreed in the change order or supplemental agreement authorizing such force account work as provided in the subsection titled PAYMENT FOR EXTRA AND FORCE ACCOUNT WORK of this section. When the standard manufactured items are specified such as fence, wire, plates, rolled shapes, pipe conduit, etc., and these items are identified by gauge, unit weight, section dimensions, etc., such identification will be considered to be nominal weights or dimensions. Unless more stringently controlled by tolerances in cited specifications, manufacturing tolerances established by the industries involved will be accepted. Scales for weighing materials which are required to be proportioned or measured and paid for by weight shall be furnished, erected, and maintained by the Contractor, or be certified permanently installed commercial scales. Scales shall be accurate within 1/2 percent of the correct weight throughout the range of use. The Contractor shall have the scales checked under the observation of the inspector before beginning work and at such other times as requested. The intervals shall be uniform in spacing throughout the graduated or marked length of the beam or dial and shall not exceed 1/10 of 1 percent of the nominal rated capacity of the scale, but not less than 1 pound. The use of spring balances will not be permitted. Beams, dials, platforms, and other scale equipment shall be so arranged that the operator and the inspector can safely and conveniently view them. Scale installations shall have available 10 standard 50-pound weights for testing the weighing equipment or suitable weights and devices for other approved equipment. Scales must be tested for accuracy and serviced before use at a new site. Platform scales shall be installed and maintained with the platform level and rigid bulkheads at each end. Scales "overweighing" (indicating more than correct weight) will not be permitted to operate, and all materials received s...

Examples of Lump Sum in a sentence

  • Lump Sum Payment Basis - Invoice by deliverable, according to the XXX.

  • In Lump Sum Contracts, the amount quoted in figures shall be taken as correct.

  • The Lump Sum price for Temporary Traffic Control will include the work of four (4) flaggers per operation per map being utilized at the same time on any day.

  • If a pilot vehicle is used for an operation, the Lump Sum Price for Temporary Traffic Control will include the work of five (5) flaggers.

  • Measurement and Payment The Lump Sum payment will be made upon approval by the Engineer that the Clearance has been satisfactorily carried out.

More Definitions of Lump Sum

Lump Sum means the cover is paid as a single amount.
Lump Sum means a single lump sum cash payment.
Lump Sum. ’ means a single stated sum of money;
Lump Sum means the price of an item of work including all things necessary to complete the item as shown on the drawings and specifications. Such an item is not measured in units but is defined by description.
Lump Sum means amounts lodged to the Account (other than by direct debit), up to a total value of €20,000.
Lump Sum means the payment of all or any part of a permanent partial disability award in one payment.
Lump Sum means a single payment of the entire balance credited to the Participant's bookkeeping account under ARTICLE IV with respect to one or more Funds at the time payment is required to be made hereunder.