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.

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Lump Sum means the total sum (fee) which will have become payable to the Consultant by the Principal upon completion of the Services.

Lump Sum means the Contractor has agreed to provide the Goods for the total price as set out in the Contract.

Examples of Lump Sum in a sentence

• Payment for this bid item shall be Lump Sum and this lump sum payment shall be full compensation for all costs incurred by the Contractor in performing the work.

• The Contract Price of $ for the Work is based on the best and final Lump Sum Bid proposal submitted by the Contractor.

• This agreement provides for the provision of contracted services by the Contractor to the Owner for electrical construction in fully tested and commissioned status, inclusive of all features and capabilities defined under the scope of work, and on the agreed schedule of delivery, for which the Contractor will be remunerated by the Owner in an amount equal to the Lump Sum bid price (contract price), paid in accordance with the Terms and Conditions of this Agreement and any subsequent awarded projects.

• The Contract for the Work is based on any direct assigned or awarded Lump Sum detailed on the Work Authorization Form that will be provided to the Contractor upon award.

• There may be limited occasions when Lump Sum circuit schedules need to be moved forward or back (swapping out of planned circuit years) due to emerging issuing impacting either the Company or Supplier.

More Definitions of Lump Sum

Lump Sum means the cover is paid as a single amount.

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.

Lump Sum means a single lump sum cash payment.

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...

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 a single stated sum of money;

Lump Sum means the payment of all or any part of a permanent partial disability award in one payment.