Fee for Profit Clause Samples

The 'Fee for Profit' clause defines the compensation a contractor or service provider receives above their actual costs, representing their profit margin for undertaking a project. Typically, this fee is calculated as a fixed percentage of the total project costs or as a lump sum, and it is agreed upon in advance as part of the contract terms. By clearly specifying how profit is determined and paid, this clause ensures transparency in compensation and helps prevent disputes over payment, thereby aligning the interests of both parties and incentivizing efficient project completion.
Fee for Profit. This section has intentionally been left blank.
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Fee for Profit. An Allowance in the amount set forth in Exhibit A is established for payment of the Fee for Profit in accordance with the provisions set forth below.
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Fee for Profit. In addition to the payments for direct and overhead costs as herein before provided, the Airport Authority agrees to pay the Construction Professional an amount for profit for Services performed, based upon a percentage of actual direct and overhead costs incurred and as set forth in Exhibit C. It is agreed and understood that such amount will constitute full compensation to the Construction Professional for profit and may vary because of any differences between that estimated cost and the actual cost for Services performed. In the event this Agreement is terminated, payment of a fee for profit shall be in an amount which shall be determined as set forth in Exhibit C, multiplied by actual direct and overhead cost incurred to date of termination less previously paid profit. Notwithstanding anything to the contrary herein, the Construction Professional shall not be entitled to any lost profits for any Work or any Services which the Construction Professional did not perform.
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Fee for Profit. In addition to the payments for direct and overhead costs as herein before provided, the Airport Authority agrees to pay the Consultant an amount for profit for Services performed, based upon a percentage of actual direct and overhead costs incurred. It is agreed and understood that such amount will constitute full compensation to the Consultant for profit and will vary because of any differences between that estimated cost and the actual cost for Services performed. In the event this Agreement is terminated, payment of a fee for profit shall be in an amount which shall be determined as set forth in Exhibit D, multiplied by actual direct and over head cost incurred to date of termination Reimbursables: As set forth in Exhibit F, attached hereto and made a part hereof, reimbursable expenses shall be actual cost of materials, and services, other than salaries, as may be required hereunder but which are not normally provided as a part of the overhead of the Consultant. All actual costs shall be itemized and certified as paid to specifically named firms or individuals, and shall be supported by proper receipts. Subconsultants: Actual costs incurred by Consultant for services procured from subconsultants pursuant to its provision of the required Services.
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Related to Fee for Profit

  • No Fee for Access Registry Operator will provide, and CZDA Provider will facilitate, access to the zone file to user at no cost.

  • Profit Profit of the Partnership for each fiscal year of the Partnership shall be allocated to the Partners in accordance with their respective Percentage Interests.

  • Program Fees Stripe will provide the Issuing Platform Services to you and the Stripe Issuing Services to Stripe Issuing Accountholders at the rates and for the fees described on the Stripe Pricing Page, unless you and Stripe otherwise agree in writing. In addition to the fees, you are also responsible for any penalties imposed on you or Stripe in relation to your use of the Issuing Platform Services. Fees and penalties may include periodic fees, foreign transaction fees, penalties for misuse, funds transfer fees, account maintenance fees, Card issuance or replacement fees, and penalties for late or failed payments. All fees or penalties you owe are in addition to amounts owed for Card Transactions and Card accounts associated with each Stripe Issuing Account. Stripe may change fees or penalties by providing Stripe Issuing Accountholder advance notice before revisions become applicable to Stripe Issuing Accountholder, subject to Law.

  • Planning for Future Years (a) Advance Notice. The Funder will give at least 60 Days’ Notice to the HSP of the date by which a Planning Submission, approved by the HSP’s governing body, must be submitted to the Funder.

  • Payment for Project Services As full consideration for the Services to be performed by Contractor, City agrees to pay Contractor as set forth in accordance with the bid and not to exceed fee of $115,365.50 for the project. A monthly progress payment in the amount of ninety-five percent (95%) of the value of the work completed may be made every thirty (30) days upon application by the Contractor and certification by the Project Manager that such work has been completed. Partial payments will be made once each month as the work satisfactorily progresses and after acceptance by the authorized City representative. The progress estimates shall be based upon materials in place, or on the job site and invoiced, and labor expended thereon. From the total of the amount ascertained will be deducted an amount equivalent to five percent (5%) of the whole, which five percent (5%) will be retained by the City until after completion of the entire Contract in an acceptable manner. Any time after fifty percent (50%) of the value of the work has been completed, the City will make any of the remaining partial payments in full. No such estimates or payments shall be required to be made, when, in the judgment of the City Project Manager, the work is not proceeding in accordance with the provision of the Contract, or when in his judgment the total value of the work done since last estimate amounts to less than Five Hundred Dollars ($500.00). The cost of materials conforming to the plans and specifications (materials being those which are required to be contained and incorporated in a finished contract bid item) delivered to the project and not at the time incorporated in the work, may also be included in the estimate for payment. No such estimate or payment shall be construed to be an acceptance of any defective work or improper material. The Contractor shall be responsible for, and shall not remove from the project any material that has been included in the estimate for payment. Final payment shall be made upon the Project Manager certifying that the Contractor has satisfactorily completed the work in conformity with the Contract Documents.