Schedule of Values definition

Schedule of Values means the detailed breakdown of the cost of the materials, labor, and equipment necessary to accomplish the Work as described in the Contract Documents, submitted by Contractor for approval by Owner and A/E.

Schedule of Values means a written breakdown allocating the total Contract Sum to each principal category of Work, in such detail as requested by Owner.

Schedule of Values means an allocation of the entire Trade Contract Agreement among the various portions of the Trade Contractor Work as reasonably approved by the Authority and to be provided by the Trade Contractor.

Examples of Schedule of Values in a sentence

• The accepted Schedule of Values will be the basis for the progress payments under the Contract.

• Tenant Improvement Payments will be processed based on the amount of Work performed according to the Developer’s Schedule of Values (Exhibit G to the Facilities Lease) and pursuant to the provisions in Exhibit D to the Facilities Lease, including withholding for or escrow of retention of five percent (5%) of the Guaranteed Maximum Price.

• Owner may reduce the amount requested for General Conditions Costs in any Application for Payment if Owner, in its good faith judgment, determines that the unpaid balance of the General Conditions line item in the Schedule of Values is not sufficient to fund necessary General Conditions Costs for the remainder of the Project.

• All payment requests shall be submitted through e-Builder® with a Schedule of Values and include all required attachments.

• Contractor’s Application for Payment shall be submitted on a Schedule of Values approved by the Owner and include complete copies of all receipts, invoices with check vouchers or other evidence of payment, payrolls, and any and all other evidence which Owner or its designated representatives shall deem necessary to support the amount requested.

More Definitions of Schedule of Values

Schedule of Values means the detailed breakdown of the cost of the materials, labor, and equipment necessary to accomplish the Work, submitted by Contractor for approval by Owner and Design Professional.

Schedule of Values or “SOV” means a document jointly developed and approved by Consultant and the Owner reflecting portions of the Service Work Order Sum allotted for payment upon completion of the performance of various parts of the Work.

Schedule of Values means the detailed breakdown of the cost of the materials, labor and equipment necessary to accomplish the Work as described in the Contract Documents, submitted by Contractor for approval by Owner and Architect/Engineer.

Schedule of Values means the detailed list of the value of each construction activity included in the Contract Price broken down by labor and materials that is submitted by the Design-Builder and approved by the Commission, as amended.

Schedule of Values means a detailed list of the work activities required for project construction; including costs allocated thereto to be utilized by the Architect/Engineer in progress payments. The schedule of values shall include all elements associated with fulfilling the requirements of the contract; bonds, insurance, etc.; major items of material or equipment.

Schedule of Values means the values allocated to materials and various portions of the Work, prepared in such form, and supported by such data to substantiate its accuracy as City may require.

Schedule of Values means Contractor’s statement reflecting the portions of the Contract Sum allocated to the various portions of the Work and, when approved by Owner, used as the basis for reviewing and processing Applications for Payment, in accordance with Section 6.2 of these General Conditions.