Common use of Final Construction Cost Estimate Clause in Contracts

Final Construction Cost Estimate. (a) The House Doctor shall furnish a final Construction Cost Estimate, current to the date of the final bid document submission, in Construction Standards Institute Masterformat or Uniformat 2010, as specified by Awarding Authority, cross-referenced to the final Uniformat II Construction Cost Estimate. This estimate shall contain the same total and percentage allowances as the final Uniformat II Construction Cost Estimate for overhead and profit and for any further allowances for escalation and other contingencies. (b) The House Doctor shall also submit a summary comparing the final construction drawings and specifications and final Estimated Construction Cost with the Program requirements and submittals made during the Design Development Phase, explaining any significant deviations.