Fixed Lump Sum Sample Clauses

The Fixed Lump Sum clause establishes that a specific, predetermined amount will be paid for the completion of a defined scope of work, regardless of the actual costs incurred by the contractor. In practice, this means the contractor is responsible for managing all expenses within the agreed sum, and any cost overruns are not reimbursed by the client. This clause provides cost certainty for the client and incentivizes the contractor to work efficiently, ultimately allocating the risk of cost overruns to the contractor and simplifying payment administration.
Fixed Lump Sum. Under this compensation basis, the Consultant agrees to perform specifically described services for an agreed fixed dollar amount of compensation.
View SourceView Similar (4)
Fixed Lump Sum. A basis for compensation of the Consultant for services performed that establishes the maximum value of compensation for the basic services as described within the Agreement.
View SourceView Similar (4)
Fixed Lump Sum. When the price is not based on fixed unit prices, it is expressed as a fixed lump sum. The price to be paid to the Contractor is an all-inclusive price covering all the expenses resulting from the supply of Products or performing of the Services or Works, including the expenses related to labour, supervision, consumables, Contractor’s Tools, design, engineering, delivery of Technical Documentation, manufacturing, testing, packaging transport, storage, quality assurance, erection, construction, commissioning and testing, coordination, handing over, travel, accommodation, Intellectual Property Rights costs, insurance costs, overheads, taxes, duties and profits.
View SourceView Similar (2)
Fixed Lump Sum. The Commercial Proposal submitted by the Supplier as part of its Proposal applies both to Mode 1 operation and Mode 2 operation. In the event of Mode 2 operation MWC shall apply all respective requirements and commitments made by the Supplier in its Commercial Proposal as is. Accordingly, for all means and purposes including the 1st Performance Test, referred to in Section 21.3 (1st Performance Test) below, and Routine Performance Tests, referred to in Section 21.4 (Routine Operation Tests) below, the Parties shall refer to the respective requirements of the Contract Documents and Commercial Proposal Forms which shall bind and apply both to Mode 1 operation and Mode 2 operation. This equally applies also to the manner by which Liquidated Damages for Non-compliance with Guaranteed Performance Criteria shall be calculated by MWC and applied by it. MWC’s Fulfilment of Mode 2 Option– Schedule – At any time as of Signature Date and at the latest 8 months following Signature Date, MWC may notify the Supplier of its decision to implement Mode 2 operation of the Project (the “Option”). In the event such notice is given within the aforesaid timeframe – the implementation of the Option shall have no schedule implications and the Project shall be advanced per the Project Schedule.
View Source
Fixed Lump Sum. The Commercial Proposal submitted by the Supplier as part of its Proposal applies both to Mode 1 operation and Mode 2 operation. In the event of Mode 2 operation MWC shall apply all respective requirements and commitments made by the Supplier in its Commercial Proposal as is.
View Source
Fixed Lump Sum. AGREEMENTS 5.1 General 5.2 Calculation of Annual Lump Sum Payment and Distribution of Costs for Labor, Equipment and Materials 5.3 Adjustment of Annual Lump Sum Payment; Periodic Cost-Effectiveness or Reasonableness Evaluations 5.4 Interim Payment Arrangements 5.5 Total Annual Payment; Payment Limits; Unsatisfactory Work Performance – State Response 5.6 Overpayment 5.7 Extension of Agreement; Change of Agreement Type; Withdrawal from Agreement 5.8 Extra Work
View Source

Related to Fixed Lump Sum

  • Lump Sum The Change Order cost is determined by mutual agreement as a lump sum amount changing the Contract Sum allowed for completion of the Work. The Change Order shall be substantiated by documentation itemizing the estimated quantities and costs of all labor, materials and equipment required as well as any ▇▇▇▇-up used. The price change shall include the cost percent allowed for the Contractor's overhead and profit and, if eligible, Time Dependent Overhead Costs.

  • Contribution Formula - Basic Life Coverage For employee basic life coverage and accidental death and dismemberment coverage, the Employer contributes one-hundred (100) percent of the cost.

  • Fixed Annuity An Annuity with payments which do not vary in amount.

  • When Must Distributions from a ▇▇▇▇ ▇▇▇ Begin Unlike Traditional IRAs, there is no requirement that you begin distribution of your account during your lifetime at any particular age.

  • Contract Distribution The Employer will provide all current and new employees with a link to the new Agreement. Each department or unit will maintain a paper copy of the contract accessible to all employees.