Total Cost Method definition

Total Cost Method means any cost method, or variety of cost methods, using the difference between the actual cost of the work and the bid price of the work to calculate the money owed to the Contractor.
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Examples of Total Cost Method in a sentence

  • The use by the CONTRACTOR of the Total Cost Method (calculating the total sum of expenses incurred on the project, less amounts paid, marked up by overhead and profit) of pricing changes and claims is expressly prohibited (provided however, the AGENCY may use a “make whole” analysis to determine the reasonableness of the CONTRACTOR’s claim).

  • The use by CONTRACTOR of the Total Cost Method (calculating the total sum of expenses incurred on the Project, less amounts paid, marked up by overhead and profit) of pricing changes and claims is expressly prohibited (provided however, the AGENCY may use a “make whole” analysis to determine the reasonableness of CONTRACTOR’s claim).

  • The use by the Contractor of the Total Cost Method (calculating the total sum of expenses incurred on the project, less amounts paid, marked up by overhead and profit) of pricing changes and claims is expressly prohibited (provided however, the Owner may use a “make whole” analysis to determine the reasonableness of the Contractor’s claim).