Contractor Contingency Clause Samples

The Contractor Contingency clause establishes a designated sum within the project budget that the contractor can use to cover unforeseen costs or minor changes that arise during the course of the work. This contingency fund is typically managed by the contractor and may be used for items such as unanticipated site conditions, minor design clarifications, or small scope adjustments that do not warrant a formal change order. By including this clause, the contract provides flexibility to address minor issues efficiently, reducing delays and administrative burden while ensuring the project stays on track despite minor uncertainties.
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Contractor Contingency. The Service Provider shall include Project construction contingency in its Task Order fee proposal as indicated in the contingency schedule and as negotiated with the Trustees as part of the Task Order process. Uses of contingency shall be as approved by the Trustees, and as described in this document. Any unused portion of the contingency shall be returned to the Trustees. Service Provider shall be responsible for any contingency overruns. The Service Provider shall not cause, or allow, the trade contractors to include any construction contingency or allowances in their bids, unless it is itemized as a Service Provider Allowance.
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Contractor Contingency. The Contractor Contingency amount indicated herein is included in the GMP and may be used at the Contractor’s request only upon obtaining the District’s prior written approval, which shall not be unreasonably withheld. (“Contractor Contingency”). Contractor Contingency is Three Percent (3.00%). (See Attachment No. 4, Exhibit D). 4.8.1. Once the District approves the use of a portion of the Contractor Contingency amount(s), the Contractor shall invoice 100% of the approved amount of that specific Contractor Contingency on the Schedule of Values for the Tenant Improvement Payments, the District will pay 95% of that amount, and the District will withhold 5% of that amount as Retention, as indicated herein below and in Exhibit G to the Facilities Lease. 4.8.2. Prior to requesting the payment for any portion of the Contractor Contingency, Contractor must submit to the District a written request for the Contractor Contingency that shall include a description of the requested use of the Contractor Contingency and why it is necessary to complete the Project. The Contractor Contingency shall only be for the following items: 4.8.2.1. Scope Gaps, and errors in covering and pricing specific scopes of work due to mathematical miscalculations or unaccounted-for tasks at the time the GMP was established, but not for errors in judgement in pricing items such as under estimating price escalation; Contractor is not responsible for errors and omissions of the architect or architect’s consultants. As- builts shall be considered for reference only. 4.8.2.2. Construction costs associated with the refinement of incomplete design information within the Scope of Work that would have been identified and corrected prior to the bidding phase as part of a reasonable constructability review of the Documents on which the GMP is based. 4.8.2.3. Other items requested by the Contractor (e.g., overtime costs on specific items) if approved by the District and in the District’s sole discretion. 4.8.3. The Contractor Contingency shall only be used to the extent the Contractor can document that item was not otherwise in its or its Subcontractors’ pricing for the Project and only to the extent that the cost of work is not recoverable by Contractor from others, by insurance of otherwise. If the District chooses to utilize all or a portion of the Contractor Contingency for the allowable uses of the Contractor Contingency, as defined herein, the District shall notify the Contractor in writing in ac...
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Contractor Contingency. Within the GMP shall be a line item amount of representing ( %) percent of the GMP to cover the Contractor Contingency (“Contractor Contingency”). The Contractor Contingency is for the exclusive use of Contractor, as approved by District, to pay for miscellaneous work items, which are required to complete the Project. Contractor shall not use the Contractor Contingency to pay for costs related to the following: (a) errors or omissions in the Construction Documents; (b) discrepancies with the plans and specifications as it pertains to applicable building code requirements; and/or (c) enhancements or additions to the Scope of Work desired by District. Costs related to (a)-(c) above will be paid for pursuant to the provisions of Section 9, below, the allowance set forth in this Section, subsection (2), or the District Contingency set forth in subsection (3).
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Contractor Contingency. The Contractor Contingency is for the exclusive use of the Contractor, as approved by the District, to pay for miscellaneous work items, which are required to complete the Project. The Contractor shall not use the Contractor Contingency to pay for costs related to the following: (a) errors or omissions in the construction documents; (b) discrepancies with the plans and specifications as pertains to applicable building code requirements; (c) and/or enhancements or additions to the Scope of Work desired by the District. Costs related to (a)-(c) above will be paid for pursuant to the provisions of Section 9, below, the allowance set forth in this Section, subsection (2), or the District Contingency.
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Contractor Contingency. 4 Cost of the Work ............................................................................................................................. 4 County ............................................................................................................................................. 1
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Contractor Contingency. The Final GMP shall include a contingency amount to cover Contractor issues (“Contractor Contingency”) in such amount or in such percentage of the Final GMP or portion thereof as the Parties agree and set forth in the itemized Final GMP. Subject to approval by the District, the Contractor Contingency may be used upon request of the Contractor to pay costs of miscellaneous work or items reasonably necessary for the Contractor to complete the Project, including, but not limited to, increases in materials costs not reasonably foreseeable by the Contractor prior to the Operative Date. Any portion of the Contractor Contingency remaining after completion of all Work shall be considered a savings and shall be split between the Parties with the District retaining seventy-five percent (75%) of the remaining amount and the Contractor receiving, as a performance incentive, the other twenty-five percent (25%) of the remaining amount.
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Contractor Contingency. The GMP shall include a maximum contingency amount to cover reasonably unanticipated Contractor issues (“Contractor Contingency”) in the amount specified in Exhibit E to this CSA. Upon prior approval by the District in writing, the Contractor Contingency may be used to pay unanticipated costs associated with performance of the Work or items reasonably necessary for the Contractor to complete the Project. Any portion of the Contractor Contingency remaining after completion of all Work shall be considered a savings and shall be split between the Parties with the District retaining seventy-five percent (75%) of the remaining amount and the Contractor receiving the other twenty-five percent (25%) of the remaining amount as a performance incentive.
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Contractor Contingency 
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Related to Contractor Contingency

  • Construction Contingency The proposed GMP Change Order shall include, as a separately identified item, a Construction Contingency sum in an initial amount (subject to increase or decrease) against which Design-Builder can draw at its election for the purposes set forth in Section 4 Part 4. The initial Construction Contingency sum shall include the contingency amounts stated in all accepted Component Change Orders.

  • Contractor If COUNTY elects to renegotiate this Agreement due to reduced or terminated 20 funding, CONTRACTOR shall not be obligated to accept the renegotiated terms.

  • MORTGAGE CONTINGENCY A. This agreement is contingent upon Purchaser obtaining approval of a Conventional, FHA or VA (if FHA or VA, see attached required addendum) or mortgage loan of $ for a term of no more than years at an initial fixed or adjustable nominal interest rate not to exceed % (percent). Purchaser agrees to use diligent efforts to obtain said approval and shall apply for the mortgage loan within business days after the Seller has accepted this contract. Purchaser agrees to apply for such mortgage loan to at least one lending institution or licensed mortgage broker. Upon receipt of a written mortgage commitment or in the event Purchaser chooses to waive this mortgage contingency, Purchaser shall provide notice in writing to of Purchaser’s receipt of the mortgage commitment or of Purchaser’s waiving of this contingency. Upon receipt of such notice this contingency shall be deemed waived or satisfied as the case may be. In the event notice as called for in the preceding sentence has not been received on or before , , then either Purchaser or Seller may within five business days of such date terminate, or the parties may mutually agree to extend, this contract by written notice to . Upon receipt of termination notice from either party, and in the case of notice by the Purchaser, proof of Purchaser’s inability to obtain said mortgage approval, this agreement shall be cancelled, null and void, and all deposits made hereunder shall be returned to the Purchaser.

  • FUNDING CONTINGENCY a. In the event funding from state, federal, or other sources is withdrawn, reduced, or limited in any way after the effective date of this Contract and prior to completion of the work in this Contract, DCYF may: (1) Terminate this Contract with ten (10) days advance notice. If this Contract is terminated, the parties shall be liable only for performance rendered or costs incurred in accordance with the terms of this Contract prior to the effective date of termination; (2) Renegotiate the terms of the Contract under the new funding limitations and conditions; (3) After a review of project expenditures and deliverable status, extend the end date of this Contract and postpone deliverables or portions of deliverables; or (4) Pursue such other alternatives as the parties mutually agree to in writing. b. Any termination under this Section (FUNDING CONTINGENCY) shall be considered a Termination for Convenience.

  • CONTRACT DIRECTION (a) Only the LOCKHEED ▇▇▇▇▇▇ Procurement Representative has authority on behalf of LOCKHEED ▇▇▇▇▇▇ to make changes to this Contract. All amendments must be identified as such in writing and executed by the parties. (b) LOCKHEED ▇▇▇▇▇▇ engineering and technical personnel may from time to time render assistance or give technical advice or discuss or effect an exchange of information with SELLER's personnel concerning the Work hereunder. No such action shall be deemed to be a change under the "Changes" clause of this Contract and shall not be the basis for equitable adjustment. (c) Except as otherwise provided herein, all notices to be furnished by SELLER shall be in writing and sent to the LOCKHEED ▇▇▇▇▇▇ Procurement Representative.