Markups Clause Samples
The Markups clause defines how changes, edits, or annotations to a contract or document are to be handled and recorded during negotiations. Typically, this clause specifies the format for making markups—such as using tracked changes in word processing software or highlighting modifications in a different color—and may require that all parties review and acknowledge these changes before finalizing the document. Its core practical function is to ensure transparency and clarity in the revision process, reducing the risk of misunderstandings or disputes over what has been altered in the agreement.
POPULAR SAMPLE Copied 1 times
Markups. As directed by the City of ▇▇▇▇▇, the following add-on percentages were added to the CC to develop the total capital cost: • Engineering Design: 10 percent of CC • Construction Management: 10 percent of CC • General Contingency: 15 percent of CC • Program Administration: 5 percent of CC
Markups. Subcontractor shall use markup rates no greater than the following when pricing all change order work: The above markups shall be applied to actual direct costs of the work involved in the change including labor, materials, equipment and subcontracted work. The overhead markup shall include all of Subcontractor’s costs for overhead including small tools, administration, home office support, management support, and all other such costs. There shall be no other markups for indirect costs or fees charged by Subcontractor, unless described in Exhibit “B”.
Markups. For each firm whose direct costs are separately identified in the proposal, the Contractor shall propose an overhead rate, profit rate, and where applicable, a bond rate and insurance rate. Markups shall be determined and applied as follows:
(1) Overhead rates shall be negotiated, and may be subject to audit and adjustment.
(2) Profit rates shall be negotiated, but shall not exceed ten percent, unless entitlement to a higher rate of profit may be demonstrated.
(3) The Contractor and its subcontractor[s] shall not be allowed overhead or profit on the overhead or profit received by a subcontractor, except to the extent that the subcontractor’s costs are properly included in other direct costs as specified in paragraph (f) of this clause.
(4) Overhead rates shall be applied to the direct costs of work performed by a firm, and shall not be allowed on the direct costs of work performed by a subcontractor to that firm at any tier except as set forth below in paragraphs (h)(6) and (h)(7) of this clause.
(5) Profit rates shall be applied to the sum of a firm’s direct costs and the overhead allowed on the direct costs of work performed by that firm.
(6) Overhead and profit shall be allowed on the direct costs of work performed by a subcontractor within two tiers of a firm at rates equal to only fifty percent of the overhead and profit rates negotiated pursuant to paragraphs (h)(1) and (h)(2) of this clause for that firm, but not in excess of ten percent when combined.
(7) Overhead and profit shall not be allowed on the direct costs of a subcontractor more than two tiers below the firm claiming overhead and profit for subcontractor direct costs.
(8) If changes to a Contractor’s or subcontractor’s bond or insurance premiums are computed as a percentage of the gross change in contract value, markups for bond and insurance shall be applied after all overhead and profit is applied. Bond and insurance rates shall not be applied if the associated costs are included in the calculation of a firm’s overhead rate.
(9) No markup shall be applied to a firm’s costs other than those specified herein.
Markups. For Changes to the Lump Sum Price, the following conditions shall apply:
.1 For increases in the Work which the Design-Builder is permitted to perform by Design-Builder’s own forces, the Lump Sum Price shall be increased by the sum of: (i) the Direct Cost of the Work; and (ii) a fee (covering home office overhead, field supervision, general conditions and profit) of fifteen percent (15%) of the sum due under (i);
.2 For increases in the Work performed by Subcontractors, the Lump Sum Price shall be increased by the sum of: (i) the Direct Cost of the Work incurred by the Subcontractor for the changed Work; (ii) a fee (covering home office overhead and profit) equal to fifteen percent (15%) of the sum due under (i) above for the Subcontractor performing such Work; and (iii) a fee (covering the Design-Builder’s home office overhead, field supervision, general conditions and profit) of five percent (5%) of the sum of items (i) and (ii). Intervening tier Subcontractors shall be entitled to a mark-up of five percent (5%) (covering home office overhead, field supervision, general conditions and profit); provided, however, that in all situations and regardless of the number of tier Subcontractors involved, the maximum mark- up on the Direct Cost of the Work shall be twenty five percent (25%) and provided, further, that the Design-Builder shall not be entitled to the markup referred to in item (iii) on changes unless such changes exceed, either individually or in the aggregate, five percent (5%) of the Lump Sum Price.
.3 When both additions and credits are involved in any one change in the Work, the Design-Builder’s Change Order and markup shall be figured on the basis of the net increase, if any.
.4 Fee will not be paid by Department for overtime or weekend work unless overtime is requested in writing and approved in writing by Department.
.5 The amount of credit to be allowed by Design-Builder to Department for a deletion or change which results in a net decrease in the Lump Sum Price shall be the Cost avoided as confirmed by Department plus fifteen percent (15%) for profit on the deleted work.
.6 Direct Cost of the Work shall mean labor, material and other costs reasonably and necessarily incurred in the proper performance of the Work as approved by the Department, and shall include, but is not limited to:
(a) Labor. Payment will be made for direct labor cost plus indirect labor cost such as insurance, taxes, fringe benefits and welfare provided such costs are co...
Markups. For each firm whose direct costs are separately identified in the proposal, the Contractor shall propose an overhead rate, profit rate, and where applicable, a bond rate and insurance rate. Markups shall be determined and applied as follows:
(1) Overhead rates shall be negotiated, and may be subject to audit and adjustment.
(2) Profit rates shall be negotiated, but shall not exceed ten percent, unless entitlement to a higher rate of profit may be demonstrated.
(3) The Contractor and its subcontractor[s] shall not be allowed overhead or profit on the overhead or profit received by a subcontractor, except to the extent that the subcontractor’s costs are properly included in other direct costs as specified in paragraph (f) of this clause.
(4) Overhead rates shall be applied to the direct costs of work performed by a firm, and shall not be allowed on the direct costs of work performed by a subcontractor to that firm at any tier except as set forth below in paragraphs (h)(6) and (h)(7) of this clause.
(5) Profit rates shall be applied to the sum of a firm’s direct costs and the overhead allowed on the direct costs of work performed by that firm.
(6) Overhead and profit shall be allowed on the direct costs of work performed by a subcontractor within two tiers of a firm at rates equal to only fifty percent of the overhead and profit rates negotiated pursuant to paragraphs (h)(1) and (h)
Markups. Agent acknowledges and agrees that he/she will comply with Company’s policy of never adding a surcharge or mark-up to the cost of any third party settlement service when performing services under this Agreement.
Markups. 1. The following items are approved for ▇▇▇▇-up:
a. Subconsultant Invoices.
2. Any approved item of Extra Work not identified in the above list may not be marked-up.
A. Promptly after the execution of this Agreement, the Engineer shall prepare and submit for approval to the District a Schedule of Work showing the order in which Engineer proposes to carry out Engineer's work (“Schedule of Work”). The Schedule of Work shall apply to the completion of all Work listed hereunder within the times established by this Agreement. The Schedule of Work shall be in the form of a progress chart clearly delineating all important increments and review dates. Engineer shall update the Schedule of Work on a monthly basis and deliver two (2) copies to the District along with the monthly billing.
B. Engineer shall complete all Work and Services required under the Schematic Design Phase within 64 calendar days after written authorization from District to proceed.
1. Site lighting assessment of existing exterior site lights.
2. Photometric lighting calculations of existing exterior site lighting fixtures.
3. Recommendations that meet Illuminating Engineering Society (IES) lighting levels for exterior spaces for public safety.
4. Assessment of existing exterior lighting control panels and recommendations to address additional energy savings and public safety.
C. The durations stated above include the review periods required by the District and all other regulatory agencies.
Markups. 1. The ▇▇▇▇-up on any approved Extra Services by sub-consultants shall not exceed five percent (5%).
2. No other markups will be allowed.
Markups. Markups on subconsultants and Other Direct Costs are not reimbursable through the Water Storage Investment Program grant and will not be allowed in this Agreement.