Lump Sum Work definition

Lump Sum Work means a contractual arrangement that prescribes a lump sum as payment for performance of the item of work to which it relates.

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Lump Sum Work. The following provisions shall apply to all Work performed on a lump sum basis.

Lump Sum Work has the meaning set forth in Section 1 of Attachment J.

Examples of Lump Sum Work in a sentence

• Payment will be made under: Temporary Traffic Control Lump Sum Work Zone Advance/General Warning Signing Square Foot (7-15-14) RWZ-2 Coordinate the installation of items required by the contract documents and resurfacing operations such that these operations are completed in the order as agreed upon with the Engineer at the first pre-construction meeting.

• Payment will be made under: Temporary Traffic Control Lump Sum Work Zone Advance/General Warning Signing Square Foot 11/14/2017 (7-15-14) RWZ-2 Coordinate the installation of items required by the contract documents and resurfacing operations such that these operations are completed in the order as agreed upon with the Engineer at the first pre-construction meeting.

• Payments for Lump Sum Work Orders shall be invoiced on a percent complete basis, with monthly progress payments between milestones or as agreed to by the Owner.

• The Schedule of Fixed Prices sets forth the all-inclusive Lump Sum Amount for each Item of Lump Sum Work.

• The sum of the items listed in the Breakdown Schedule shall equal the amount or amounts set forth in the Schedule of Prices for Lump Sum Work.

• When a change in Lump Sum Work is valued on a cost plus basis, the Owner may require that the aggregate amount incurred under the corresponding Change Directive shall not exceed a maximum amount acceptable to the Owner, acting reasonably, and specified in the Change Directive, as such amount may be revised from time to time by subsequent written authorization of the Owner.

• If Contractor fails to submit a revised Breakdown Schedule that is acceptable to Owner, Owner shall have the right either to suspend Progress and Final Payments for Lump Sum Work or to make such Payments based on Owner’s determination of the value of the Work completed.

• As compensation in full to Contractor for the full and complete performance of the Work and all of Contractor’s other obligations under this Agreement with respect to the Work, Owner shall pay and Contractor shall accept the sum of (i) the product of the Fixed Unit Prices multiplied by the Measured Quantities for all Unit Price Work performed in accordance with this Agreement, plus (ii) the sum of the Lump Sum Amounts for all Lump Sum Work performed in accordance with this Agreement (the “Contract Price”).

• Payment for Lump Sum Work, if any, shall be based on the Lump Sum Prices set out in the Schedule of Prices.

• If the Work Authorization is a Lump Sum Work Authorization, Consultant shall specify the personnel used to perform the services requested.

More Definitions of Lump Sum Work

Lump Sum Work or “piece work” is understood to be work, which is carried out in exchange for payment of an amount that is determined according to hour tariffs or unit prices. Lump-sum work is understood to be: work, which is carried out for a predetermined price, whether or not subject to review in writing.

Lump Sum Work means all costs, excluding Contractor’s General Overhead and profit, associated with a Work Order in which provides for payment by Lump Sum.

Lump Sum Work means Work that is designated as lump sum work in the Schedule of Prices as accepted by the Owner.

Lump Sum Work means Work that is described or designated as lump sum work in the Contract Documents or Work that is not so described or designated but is also not Unit Price Work or Cost Plus Work.