Price Item definition

Price Item is any attribute combination that requires a price.

Price Item means a component of the Baseline Project Schedule and Schedule of Values for which the Contractor provides a Price Item Value for all Work included in that item. A Price Item may be a major contract item or series of interrelated items.

Price Item. (PI) means a component of the Schedule of Prices for which the Core Systems Contractor provides a Price Item Value (PIV) for all Work included in that item. A PI may be a major contract item or series of interrelated items as identified in the Pricing Information. This term also applies to the Schedule of Milestones that serves as a basis of payment and which is provided prior to Contract Execution. Items on the Schedule of Milestones are also referred to as PI and contain a PIV.

Examples of Price Item in a sentence

• The activity schedule and schedule of values shall include each Unit Price Item as a separate and distinct item.

• Each prospective Bidder shall, before submitting its Bidder's Proposal, make its own estimate of the quantities of Unit Price Items required to complete the Work and shall determine its Price Proposal for each Unit Price Item in light of its own estimate.

• If there are specific work items which the Contractor believes are not identified in any Unit Price Item, but is required to provide a functionally complete Project, then the identified specific work items shall be included in the appropriate Unit Price Item.

• All the sums set out in the Bill of Quantities which shall be started to be provisional or for contingencies shall be used only at the direction and discretion of the Engineer and if not used either wholly or in part shall as to the amount not used be deducted from the Contract Price Item not monied 50.

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• For each item that Foreign Products are contemplated, the appropriate "Item Numbers", "Approximate Quantities", "Description of Items", "Unit Price or Lump Sum Price", "Item Amount Domestic" and "Item Amount Foreign" shall be tabulated below as specified in the initial bid.

• The sum of the Lump Sum Price for each Price Item shall be the Proposal Price.

• Defined work for each Unit Price Item which will provide a functionally complete Project when combined with all unit price items.

• If there is a specific Unit Price Item for any of the following items, then the work item shall be included with that specific unit price item.

• The payment for a Stipulated Price Item shall be made by the County to the Contractor at the related unit price specified in the ‘Stipulated Price Items’ section of the Bid Form on the same basis as the payment for any other regular Bid Item.

More Definitions of Price Item

Price Item means the Product Selling Price Price Item and the Delivery Costs Price Item referred to in the Calculation Table set out in Part 4. Product Selling Price of a Timber Type is the weighted average FOB price received by the Buyer for the Products sold from the relevant Timber Type during the review period as provided by the Buyer, or some other price Indicator agreed with the Buyer. Weighted Movement means the weighted Indicator Movement calculated using the Indicator Weighting. Part 2: Methodology The Adjustment is made effective at 1 January and 1 July each year for each Timber Type set out in Schedule One; and • takes into account the percentage change for each of the Indicators between the date of Base Indicator and date of Current Indicator; and • is calculated as the sum total of the Weighted Movements in Indicator Index for each Indicator (i).