Risk contingency definition

Risk contingency means a contingency for use as defined in the contract and established as part of the maximum allowable construction cost for unexpected cost of work items that have not otherwise been included or addressed in the maximum allowable construction cost.
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Risk contingency means a contingency for use as
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Risk contingency means a contingency for use as defined in the contract and established as part of the maxi- mum allowable construction cost for unexpected cost of work
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Examples of Risk contingency in a sentence

  • The Treasurer shall be formally designated by a resolution adopted 5 by the Board of Directors stating the effective date of the appointment and the 6 term of the appointment.

  • Contractor Risk contingency sums are not shared and are retained by the Contractor, regardless of whether they are used.

  • Commercial 30% Competitiveness of consultant rates in relation to market Methodology and benchmarking of consultant rates Financial Plan Approach/methodology to deliver output based deliverables and VfM Methodology for ensuring programme will be delivered in line with agreed costs Financial Risk/ contingency incorporated into costs The evaluation criteria and sub-weighting are also set out in the Invitation to Tender documentation.

  • Low / Medium 10.2 Risk contingency plan Key persons leave consortium partner All partners work in organisations with a sufficient pool of staff that allows them to bring in other qualified personnel into the project.