Common use of Cost Breakdown Clause in Contracts

Cost Breakdown. Prior to submitting Contractor’s first request for payment, the Contractor shall prepare and submit to the Project Manager and District a cost breakdown (schedule of values) if there are more than one trade required in construction of the Project or a sample invoice whichever is applicable. If the scope of work calls for more than one trade, please show the major work items for each trade or operation required in construction of the Project on a cost breakdown (schedule of values). The work items will be sufficiently detailed to enable the Project Manager to accurately evaluate the completion percentages requested by the Contractor. The cost for each work item shall include overhead and profit. The total of all work item costs shall equal the amount of the Contract.