Contingency Allowance. Vendors should include a separate contingency allowance line item, calculated as a percentage of the total estimated cost (excluding the contingency allowance itself). The allowance should be within a range of 20-40% as deemed appropriate based on the project's complexity and potential uncertainties. The utilization of the contingency allowance requires prior approval from the requesting entity.
Appears in 5 contracts
Sources: Master Agreement for General Contracting and Individual Skilled Trades Services, Master Agreement for General Contracting and Individual Skilled Trades Services, Master Agreement