Sum definition
Examples of Sum in a sentence
The Agreed Sum is the agreed and final amount due for the Adjustment, including any Betterment, under this Amendment.
The Payment Bond is to be for the Contract Sum and is payable to the Owner solely for the protection and use of payment bond beneficiaries who have a direct contractual relationship with the Contractor or a Subcontractor.
Owner may collect liquidated damages due from Contractor directly or indirectly by reducing the Contract Sum in the amount of liquidated damages stated in the Agreement or the Owner’s Special Conditions.
If Contractor believes that such clarification or interpretation justifies an adjustment in the Contract Sum or the Contract Time, the Contractor shall notify the Owner in accordance with the provisions of Article 11.
A Performance Bond is required if the Contract Sum is in excess of $100,000.