Lump Sum Proposal Clause Samples

A Lump Sum Proposal clause defines the agreement that a contractor will complete a specified scope of work for a fixed, predetermined price. This clause typically applies to construction or service contracts where the total cost is agreed upon upfront, regardless of the actual expenses incurred during the project. By establishing a set price, it provides cost certainty for the client and incentivizes the contractor to manage resources efficiently, ultimately reducing the risk of unexpected cost overruns.
POPULAR SAMPLE Copied 6 times
Lump Sum Proposal. Prior to performing any work, the Contractor will within ten (10) days after receipt of the Owner's or Construction Manager’s communication submit its Lump Sum Proposal. This Proposal will be itemized and segregated by labor and material for the various components of the Work. No aggregate labor total will be acceptable. The Contractor will furnish with its Proposal supporting data consisting of subcontractors' and vendors' signed proposals. The Contractor will be allowed a maximum ▇▇▇▇-up of 15% for overhead and profit on labor performed by its own forces and material purchases. Subcontractors, likewise, will be permitted a maximum ▇▇▇▇-up of 15% for overhead and profit on labor performed by their own forces and material purchases. The Contractor will be further allowed a maximum ▇▇▇▇-up of: (a) 6% on all of its subcontractors' Work; and (b) 6% on equipment rented by the Contractor or subcontractor. In no case shall the aggregate ▇▇▇▇-up for the Contractor and all of its tiered Subcontractors exceed 21% of the actual cost of the extra Work. A wholly owned subsidiary, sister, joint venture, related companies or a company in which the Contractor has a majority interest will not be considered as Subcontractor when calculating overhead and profit ▇▇▇▇- ups. The Contractor may include in its labor proposal only those workmen and foremen directly involved in the Work. All other supervision is included in the 15% overhead and profit ▇▇▇▇-up
View SourceView Similar (4)
Lump Sum Proposal. If the District elects to have the Change in the Work performed on a lump sum basis, such election shall be based on a lump sum proposal which shall be submitted by the Contractor within ten (10) calendar days of the District’s request therefor. Request for a lump sum proposal shall not be deemed an election to have the work performed on a lump sum basis. The Contractor’s proposal shall be itemized and segregated by labor and materials for the various components of the change (no aggregate labor total will be acceptable) and shall be accompanied by signed proposals of any subcontractors which will perform any portion of the change, and of any persons who will furnish materials or equipment for incorporation therein. The proposal shall also include the contractor’s estimate of the time required to perform said changes or additional work. The portion of the proposal relating to labor, whether by the Contractor’s forces or the forces of any of its Subcontractors, may include reasonably anticipated gross wages of Job Site labor, including foremen, who will be directly involved in the Change in the Work (for such time as they will be so involved), plus payroll costs (including premium costs of overtime labor, if overtime is anticipated, Social Security, federal or State unemployment insurance taxes and fringe benefits required by collective bargaining agreements entered into by the Contractor or any Subcontractor in connection with such labor) and up to fifteen percent (15%) of such anticipated gross wages, but not payroll costs, as field and home office overhead, and profit for the Contractor or any Subcontractor, as applicable (said overhead and profit to include all supervision except foremen). But in no case will the aggregate mark-up for the Contractor and Subcontractor total more than 15% of the direct material costs, and 5% of the equipment rental costs, as defined above. These costs shall not include charges for listed equipment or major tools with a new cost of $500.00 or less. No time charges shall be allowed except for equipment actually used for the proper and efficient performance or completion of the authorized change in the Work. The portion of the proposal relating to materials may include the reasonably anticipated direct costs to the Contractor or its Subcontractors for materials to be purchased for incorporation in the Change in the Work, plus transportation and applicable sales or use taxes and up to fifteen percent (15%) of said direct mate...
View SourceView Similar (3)
Lump Sum Proposal. The Contractor will within ten (10) days after receipt of the Owner's communication submit his Lump Sum Proposal. This Proposal will be itemized and segregated by labor and material for the various components of the work. No aggregate labor total will be acceptable. The Contractor will furnish with his Proposal supporting data consisting of Subcontractor's and vendor's signed proposals. The Contractor will be allowed 15% for overhead and profit on labor performed by his own forces and material purchases. Subcontractors, likewise, will be permitted an allowance of 15% for overhead and profit on their own work. The Contractor will be further allowed a 6% commission on all of his subcontractor's work, 6% overhead and profit will be allowed on equipment rented by the Contractor or subcontractor. The Contractor may include in his labor proposal only those workmen and foremen directly involved in the work. All other supervision is included in the 15% overhead and profit allowed. Contractor will be entitled to payment for labor, union fringe benefits, insurance. unemployment insurance, soda security and taxes paid on labor. No overhead or profit will be allowed on social security, unemployment insurance or other insurances or premium time. Contractor's material costs ▇▇▇▇ include invoiced costs, transportation, applicable sales or use taxes, actual rental costs or discounted local published rental rates. Use o~ small tools is included in the Contractors's overhead and profit. Overhead and profit as outlined above includes all other costs whatsoever beyond those enumerated. if any of the extra work included in the Lump Sum Proposal is covered by Contract Unit Prices, the Owner may elect to use these unit prices within the Lump Sum Proposal. No overhead and profit may be applied to these unit prices. The entire value of the change will be the net difference of the work to which will be applied overhead and profit percentages.
View Source
Lump Sum Proposal. Upon the Owner 's request, the Contractor will, with reasonable promptness after such request, transmit to the Owner a lump sum proposal detailing the proposed adjustments to the Contract Sum in connection with any change in the Work requested by the Owner. The proposal shall be itemized and segregated by labor and material (including consumables such as utilities and items required to be furnished pursuant to union contracts) for the various components of the changes in the Work and no aggregate figures for labor or material will be accepted. The Contractor shall furnish, with Contractor's lump sum proposal, supporting data consisting of final proposals from each Subcontractor, Sub-subcontractor and vendor. Only labor, materials, utilities, supervision and supplies directly attributable to the change in the Work shall be included in the proposal;
View Source

Related to Lump Sum Proposal

  • Superior Proposal (a) Each party agrees and acknowledges that from and after the date hereof until the close of business on April 28, 1997, if Assignor receives a Superior Proposal, Assignor may (i) furnish any information requested by the Offering Party with respect to such Superior Proposal (other than the contents of this Agreement or any Ancillary Agreement), (ii) participate in negotiations with such Offering Party regarding such Superior Proposal or (iii) enter into one or more letters of intent, term sheets or agreements with respect to any Superior Proposals; provided, however, that if Assignor proposes to take any of the actions specified in clause (iii) hereof, Assignor shall give Assignee prior written notice setting forth Assignor's proposed actions. (b) Not later than the close of business on May 12, 1997, Assignor shall require each Offering Party with whom it is still engaged in discussions to submit a final binding offer, subject only to acceptance by Assignor. Not later than the close of business on May 16, 1997, Assignor shall (i) determine whether any such offer constitutes a Superior Proposal, (ii) if there is more than one Superior Proposal, select which Superior Proposal Assignor intends to accept and (iii) provide written notice to Assignee setting forth all the material terms and conditions of such selected Superior Proposal ("SP Notice"). (c) After receipt of the SP Notice, Assignee shall have five (5) days to notify Assignor of its agreement to modify this Agreement and any Ancillary Agreement as necessary to acquire the Transferred Interests at the same price and under the same terms and conditions as set forth in the SP Notice ("Assignee Acceptance Notice"); provided further, however, if under the terms set forth in the SP Notice Assignor is proposing to accept property (other than cash or promissory notes), Assignee shall have the right to substitute cash in an amount equal to the value of such other property. (d) If Assignor does not give an SP Notice to Assignee on or before May 16, 1997, or if Assignee gives an Assignee Acceptance Notice to Assignor in accordance with subsection (c) hereof, neither Assignor nor Assignee shall thereafter have any right to terminate this Agreement pursuant to Section 15(c).

  • Acquisition Proposal “Acquisition Proposal” shall mean any offer or proposal (other than an offer or proposal made or submitted by Parent) contemplating or otherwise relating to any Acquisition Transaction.

  • Proposal Proposal means any information supplied by or on behalf of the insured, deemed to be a completed proposal form and medical questionnaire and other relevant information that the insurer may require.

  • Superior Proposals Notwithstanding anything to the contrary set forth in Section 6.3(b), from the date hereof until the Offer Acceptance Time, solely in response to a bona fide written Acquisition Proposal that did not result from a breach of the obligations set forth in Section 6.3(b), (i) the Company may, directly or indirectly, through one or more of their Representatives (including the Advisor), contact the Person or group of Persons making such Acquisition Proposal solely to clarify any ambiguous terms and conditions thereof so as to determine whether such Acquisition Proposal constitutes, or would reasonably be expected to constitute, a Superior Proposal, and (ii) the Company may, upon a good faith determination by the Company Board (after consultation with its financial advisor and outside legal counsel) that the failure to do so would be or would reasonably be expected to be inconsistent with its fiduciary duties under applicable Law, participate or engage in discussions or negotiations with, furnish any non-public information relating to the Company Group to, or afford access to the business, properties, assets, books, records or other non-public information, or to any personnel, of the Company Group pursuant to an Acceptable Confidentiality Agreement to any Person or its Representatives that has made or delivered to the Company such Acquisition Proposal, and otherwise facilitate such Acquisition Proposal or assist such Person (and its Representatives, prospective debt and equity financing sources and/or their respective Representatives) with such Acquisition Proposal (in each case, if requested by such Person); provided, that, prior to taking any action described in this Section 6.3(c)(ii), the Company Board (or a committee thereof) has determined in good faith (after consultation with its financial advisor and outside legal counsel) that such Acquisition Proposal either constitutes a Superior Proposal or would reasonably be expected to lead to a Superior Proposal; provided, however, that (x) the Company will substantially concurrently provide to Parent and its Representatives any non-public information that is provided to any Person or its Representatives given such access in connection with the actions permitted by this Section 6.3(c)(ii) that was not previously made available to Parent and (y) the Company Group shall not provide (and shall not permit any of their respective Representatives to provide) any competitively sensitive non-public information to any Person who is or whose Affiliates are a competitor of the Company Group in connection with the actions permitted by this Section 6.3(c)(ii), except in accordance with customary “clean room” or other similar procedures designed to manage the disclosure of competitively sensitive information.

  • Alternative Proposals Prior to the Effective Date, the Company agrees (a) that neither it nor any of its Subsidiaries shall, and it and they shall direct and use its and their best efforts to cause its and their respective officers, directors, employees, agents and representatives (including, without limitation, any investment banker, attorney or accountant retained by it or any of its Subsidiaries) not to, initiate, solicit or encourage, directly or indirectly, any inquiries or the making or implementation of any proposal or offer (including, without limitation, any proposal or offer to its stockholders) with respect to a merger, acquisition, consolidation or similar transaction involving, or any purchase of all or any significant portion of the assets or any equity securities of, the Company or any of its Subsidiaries (any such proposal or offer made prior to the termination of this Agreement (and any subsequent amended proposal or offer made by the same or an affiliated party) being hereinafter referred to as an "Alternative Proposal") or engage in any negotiations concerning, or provide any confidential information or data to, or have any discussions with, any person relating to an Alternative Proposal, or release any third party from any obligations under any existing standstill agreement or arrangement relating to any Alternative Proposal, or otherwise facilitate any effort or attempt to make or implement an Alternative Proposal; (b) that it will immediately cease and cause to be terminated any existing activities, discussions or negotiations with any parties conducted heretofore with respect to any of the foregoing, and it will take the necessary steps to inform the individuals or entities referred to above of the obligations undertaken in this Section 8.9; and (c) that it will notify Parent immediately if any such inquiries or proposals are received by, any such information is requested from, or any such negotiations or discussions are sought to be initiated or continued with, it; provided, however, that nothing contained in this Section 8.9 shall prohibit the Board of Directors of the Company from (i) furnishing information to or entering into discussions or negotiations with, any person or entity that makes or proposes to make an unsolicited bona fide proposal to acquire the Company pursuant to a merger, consolidation, share exchange, purchase of a substantial portion of assets, business combination or other similar transaction, if, and only to the extent that, (A) the Board of Directors of the Company determines in good faith that such action is required for the Board of Directors to comply with its fiduciary duties to stockholders imposed by law, (B) prior to furnishing such information to, or entering into discussions or negotiations with, such person or entity, the Company provides written 37 43 notice to Parent to the effect that it is furnishing information to, or entering into discussions or negotiations with, such person or entity and (C) the Company keeps Parent promptly informed of the status and all material terms and conditions of any such discussions or negotiations (including identities of parties); and (ii) to the extent applicable, complying with Rule 14e-2 promulgated under the Exchange Act with regard to an Alternative Proposal. Nothing in this Section 8.9 shall (x) permit the Company to terminate this Agreement (except as specifically provided in Article X hereof), (y) permit the Company to enter into any agreement with respect to an Alternative Proposal during the term of this Agreement (it being agreed that during the term of this Agreement, the Company shall not enter into any agreement with any person that provides for, or in any way facilitates, an Alternative Proposal), or (z) affect any other obligation of the Company under this Agreement.