Lump Sum and Time and Materials Changes Clause Samples

The "Lump Sum and Time and Materials Changes" clause defines how modifications to the contract price or payment structure are handled when the scope of work changes. It specifies the procedures for adjusting compensation, whether the original agreement was based on a fixed lump sum or a time and materials basis. For example, if additional work is required, the clause outlines how the parties will agree on new pricing, either by negotiating a new lump sum or by tracking actual labor and material costs. This clause ensures that both parties have a clear process for managing and compensating changes, reducing disputes and maintaining project transparency.
Lump Sum and Time and Materials Changes. The following percentages for overhead and profit shall be added to, or, as applicable, deleted from, job costs for the net amount of Work added to or deleted from the contract by written lump sum or time and material Change Orders approved by the Owner in accordance with the General Conditions. Insurance, bond, and taxes are considered as job cost items and are not included in the percentages listed below. In any one quotation for added work involving a series of Subcontractors, including assigned subcontractors, the cumulative percentages for the Contractor’s and Subcontractor’s, including assigned subcontractors, overhead and profit shall not exceed twenty-five percent (25%). All costs shall be net costs including discounts realized by the contractor. Add to the net extra job costs for added Work to be performed by: 1) Contractor’s own forces 15 % 2) Subcontractors 5 % (including Assigned Subcontractors). Add to the net credit for job costs deleted for Work originally to have been performed by: 1) Contractor’s own forces 5 % 2) Subcontractors 0 % (including Assigned Subcontractors).
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Lump Sum and Time and Materials Changes. The following percentages for overhead and profit shall be added to job costs for the net amount of Work added to or deleted from the contract by written lump sum or time and material Change Orders approved by the Professional Services Consultant and Owner in accordance with the General Conditions: Add to the net extra job costs for added Work to be performed by: 1) Contractor’s own forces 15 % 2) Subcontractors 5 % (including Assigned Subcontractors). Add to the net credit for job costs deleted for Work originally to have been performed by: 1) Contractor’s own forces 5 % 2) Subcontractors 0 % (including Assigned Subcontractors). Note: Insurance, bond, and taxes are considered as job cost items and are not included in the percentages listed above.
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Related to Lump Sum and Time and Materials Changes

  • Time and Materials If this contract is designated as a Time and Materials contract, invoicing and payment shall be as follows: (a) Consultant shall submit invoices, not more often than once a month during the term of this agreement, based on the cost for work performed in accordance with the Rate Schedule in the Scope of Work and authorized reimbursable expenses incurred prior to the invoice date. Invoices shall contain the following information: (i) Serial identifications of bills, i.e., ▇▇▇▇ No. 1; (ii) The beginning and ending dates of the billing period; (iii) A summary containing the total contract amount, the amount of prior ▇▇▇▇▇▇▇▇, the total due this period, percentage of work completed, the remaining balance available for all remaining billing periods, and a brief description of work completed during the billing period. (b) City shall make monthly payments, based on such invoices, for satisfactory progress in completion of the Scope of Work, and for authorized reimbursable expenses incurred.

  • CERTIFICATION OF NO ASBESTOS CONTAINING MATERIALS OR WORK 8.1 The Contractor shall be responsible for ensuring that no asbestos containing materials or work is included within the scope of the Work. The Contractor shall take whatever measures it deems necessary to insure that all employees, suppliers, fabricators, material men, subcontractors, or their assigns, comply with this requirement. 8.2 The Contractor shall ensure that Texas Department of Health licensed individuals, consultants or companies are used for any required asbestos work including asbestos inspection, asbestos abatement plans/specifications, asbestos abatement, asbestos project management and third-party asbestos monitoring.

  • Training Materials Training Materials will be provided for each student. Training Materials may be used only for either (i) the individual student’s reference during Boeing provided training and for review thereafter or (ii) Customer’s provision of training to individuals directly employed by the Customer.

  • Flexible Work Schedule A flexible work schedule is any schedule that is not a regular, alternate, 9/80, or 4/10 work schedule and where the employee is not scheduled to work more than 40 hours in the "workweek" as defined in Subsections F. and H., below.

  • Contractor Changes The Contractor shall notify DAS in writing no later than ten (10) Days from the effective date of any change in: a. its certificate of incorporation or other organizational document; b. more than a controlling interest in the ownership of the Contractor; or c. the individual(s) in charge of the Performance. This change shall not relieve the Contractor of any responsibility for the accuracy and completeness of the Performance. DAS, after receiving written notice by the Contractor of any such change, may require such agreements, releases and other instruments evidencing, to DAS’s satisfaction, that any individuals retiring or otherwise separating from the Contractor have been compensated in full or that provision has been made for compensation in full, for all work performed under terms of the Contract. The Contractor shall deliver such documents to DAS in accordance with the terms of DAS’s written request. DAS may also require, and the Contractor shall deliver, a financial statement showing that solvency of the Contractor is maintained. The death of any Contractor Party, as applicable, shall not release the Contractor from the obligation to Perform under the Contract; the surviving Contractor Parties, as appropriate, must continue to Perform under the Contract until Performance is fully completed.