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 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.

Examples of Schedule of Values in a sentence

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

  • As soon as practicable, Contractor shall submit its Application for Payment on the appropriate and completed form, reflecting the required modifications to the Schedule of Values required by A/E and/or ODR.

  • Contractor shall submit to ODR and A/E for acceptance a Schedule of Values accurately itemizing material and labor for the various classifications of the Work based on the organization of the specification sections and of sufficient detail acceptable to ODR.

  • The total of the Schedule of Values will be the lump sum contract amount.

  • The Contractor shall submit to the Architect or Engineer a Schedule of Values before the first Application for Payment.


More Definitions of Schedule of Values

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 Contractor and approved by the Commission, as amended.
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.
Schedule of Values or “SOV” means a table of information jointly developed and approved by Contractor and the Judicial Council in an authorized Service Work Order establishing when certain payments of defined amounts for that Service Work Order are to be made.
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 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 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.
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.