Values definition
Examples of Values in a sentence
All such payments will be measured by the Schedule of Values established as provided in the General Conditions (and in the case of Unit Price Work based on the number of units completed) or, in the event there is no Schedule of Values, as provided elsewhere in the Contract.
Subject to the provisions of the Contract Documents, the amount of each progress payment shall be computed as follows: Take that portion of the Contract Amount properly allocable to completed Work as determined by multiplying the percentage completion of each portion of the Work by the share of the total Contract Amount allocated to that portion of the Work in the Schedule of Values, less retainage of 10%.
The Schedule of Values shall include a cost breakdown indexed per the Sections of the Specifications, which shall clearly set forth labor as distinct from materials and from equipment.
This Schedule of Values shall be submitted to and approved by the Engineer prior to the submission by the Contractor for the first Application for Payment and shall be used for all subsequent applications.
A Schedule of Values for the Project shall include a complete breakdown of the costs of the various trades with further breakdown of each trade as required by the Engineer.