Certified Statement of Costs of Fixed Improvements and Operating Equipment Sample Clauses

The Certified Statement of Costs of Fixed Improvements and Operating Equipment clause requires a party, typically a tenant or contractor, to provide a formal, itemized statement verifying the actual costs incurred for permanent improvements and equipment installed on a property. This statement is usually supported by receipts, invoices, or other documentation, and must be certified as accurate by an authorized representative. The core function of this clause is to ensure transparency and accountability in reporting expenditures, which helps the property owner verify that funds have been properly spent and prevents disputes over reimbursement or asset valuation.
Certified Statement of Costs of Fixed Improvements and Operating Equipment. Except as otherwise provided herein, within ninety (90) days after the substantial completion of the Fixed Improvements and Operating Equipment, the Contractor shall furnish to the Contracting Officer a certified statement setting forth in detail the total cost of the Fixed Improvements and Operating Equipment. The total cost of Fixed Improvements and Operating Equipment to be included on the statement is limited to construction, equipment and material costs, architectural and engineering fees (for Fixed Improvements only), taxes, freight fees, and performance and payment bond premiums attributable to construction. Overhead, "in-house", or personnel costs of the Contractor or its affiliates are not allowable except as otherwise provided herein. The costs of Fixed Improvements and Operating Equipment are subject to Authority audit.
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