Common use of BASIS OF BID Clause in Contracts

BASIS OF BID. 5.01 Bidder will complete the Work in accordance with the Contract Documents for the following price(s): DESCRIPTION Total Price Total of all unit prices as listed in the PennBID Bid Form ($ ) Allowance ($700,000) SEPTA Allowance ($15,000) ($ ) Figures Bidder acknowledges that (1) each Bid Unit Price includes an amount considered by Bidder to be adequate to cover Contractor’s overhead and profit for each separately identified item, and (2) estimated quantities are not guaranteed, and are solely for the purpose of comparison of Bids, and final payment for all unit price Bid items will be based on actual quantities, determined as provided in the Contract Documents.

BASIS OF BID. 5.01 Bidder will complete the Work in accordance with the Contract Documents for the following price(s): DESCRIPTION Total Price Total of all unit prices as listed in the PennBID Bid Form ($ ) Allowance ($700,000) SEPTA Allowance ($15,000) ($ ) Figures Bidder acknowledges that (1) each Bid Unit Price includes an amount considered by Bidder to be adequate to cover Contractor’s overhead and profit for each separately identified item, and (2) estimated quantities are not guaranteed, and are solely for the purpose of comparison of Bids, and final payment for all unit price Bid items will be based on actual quantities, determined as provided in the Contract Documents.