Cost of the Work Plus Fee Clause Samples

The 'Cost of the Work Plus Fee' clause defines a contract payment structure where the contractor is reimbursed for actual project costs incurred, in addition to receiving an agreed-upon fee, which may be a fixed amount or a percentage of costs. This arrangement typically covers direct costs such as labor, materials, and equipment, and may also include certain indirect costs, depending on the contract terms. By specifying how costs are calculated and what constitutes reimbursable expenses, this clause ensures transparency in billing and helps align the interests of the owner and contractor, while providing flexibility for projects where the total scope or costs are uncertain at the outset.
Cost of the Work Plus Fee. Where an agreement to a lump sum is not reached the adjustment shall be determined on the basis of the Cost of the Work plus a Contractor's fee for overhead and profit (determined as provided in the provisions for calculation and verification of the Cost of the Work and Contractor’s fee for overhead and profit above).
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Related to Cost of the Work Plus Fee

  • Cost of the Work The sum of all allowable costs necessarily incurred and paid by Contractor in the proper performance of the Work.

  • Start-Up Costs The Government of Ontario will provide:

  • Development Fee A fee for the packaging of a Property or Mortgage, including the negotiation and approval of plans, and any assistance in obtaining zoning and necessary variances and financing for a specific Property, either initially or at a later date.

  • Project Costs Simultaneously with the execution of this Agreement, the Company shall disclose to the Department all of the Project Costs which the Company seeks to include for purposes of determining the limitation of the amount of the Credit pursuant to Section 5-30 of the Act and provide to the Department a Schedule of Project Costs in the form as attached hereto as Exhibit C.

  • Reimbursable Costs 5.3.1. To be considered eligible for reimbursement, costs have to be: • actually incurred, individually identifiable and verifiable, as backed by copies of supporting evidence, as the case may be in the Contractor’s official bookkeeping; this means that no lump sums will be eligible for reimbursement; • necessary in order to perform the tasks as specified in the Terms of Reference (Annex 2); and • cost effective and providing value for money 5.3.2. The following costs are never eligible for reimbursement: • costs for excess baggage; • costs that are covered by the per diem; and • costs that are covered from a source other than this Contract 5.3.3. Travel tickets are reimbursed by EFI up to the cost of economy class level on basis of the most cost efficient itinerary, taking into account ticket price, travel duration, number of connections and safety of the transporting company. 5.3.4. For travel tickets, EFI requires the following documentation as supporting evidence: copies of tickets or electronic reservation, invoices and boarding cards. This documentation must clearly show the class of travel used, the time of travel and the amount paid.