Schedule of Cost Components Clause Samples

The Schedule of Cost Components clause defines the specific categories and types of costs that are allowable for reimbursement under a contract. It typically outlines which expenses, such as labor, materials, equipment, and overhead, can be claimed by the contractor and may detail how these costs should be calculated or evidenced. By clearly listing eligible cost components, this clause ensures transparency in cost recovery and helps prevent disputes over what expenses are recoverable, thereby promoting fairness and clarity in contract administration.
Schedule of Cost Components. 2.1.2.1 The Schedule of Cost Components (SCC) contained in the NEC3 ECC is used to: a) define the cost components, which are included in an assessment of changed costs arising from a compensation event; and b) define the cost components for which the Contractor will be directly reimbursed. 2.1.2.2 The Schedule of Cost Components (SCC) is based on the following: a) People working within the Working Area i.e. those parts of the working areas which are necessary for Providing the Works. b) Plant and Materials are items intended to be included in the works. c) Equipment relates to items provided by the Contractor and used by him in the Working Area to Provide the Works and which the Works information does not require him to include in the works. d) Charges include water and electricity and people overhead costs incurred within the Working Area. e) Items not listed in the SCC are covered by the Fee. 2.1.2.3 The Site is the area within the boundaries of the site and the volume above and below it which are affected by work included in the contract. This area will comprise locations provided by the Employer for the works. The Contractor may establish depots or use areas of land for the purposes of the contract which are distant from the Site, e.g., borrow pits or compounds, in which case he should describe such areas in the working area in the Contract Data: Part 2 – Data provided by the Contractor (see data associated with clause 11.2(18)). Cost for people, certain charges and Equipment in these areas will be included in the SCC. If no such areas are described, all work undertaken off site save for people costs relating to the contracts manager, contracts director and senior cost controller is covered by the Fee. 2.1.2.4 Defined Cost includes only amounts calculated using rates and percentages stated in the Contract Data and other amounts at open market rates or competitively tendered prices with deductions for all discounts, rebates and taxes. 2.1.2.5 Costs not included in Defined Cost are treated as being in the Fee. Examples of cost components not included in the SCC are: a) head office charges and overheads save for those in the overhead percentages for design and manufacture and fabrication; b) insurance premiums and corporation tax; c) advertisement and recruiting costs; and d) securities and guarantees required for the contract
View SourceView Similar (6)

Related to Schedule of Cost Components

  • Schedule of Rates The specific rates and costs applicable to this Agreement are set forth in Exhibit B – Schedule of Rates, which is attached hereto and incorporated herein by reference as if set forth in full.

  • Schedule of Rates and Charges Any subconsultant rates and charges set forth in the Schedule of Rates and Charges must be the subconsultant’s actual rates and charges exclusive of any markup. The City will compensate the Consultant in accordance with those rates and charges.

  • SCHEDULE OF WORK FIRST PARTY’S proposed schedule for the various services required will be set forth in Exhibit A-1. In addition to services described in Section A1, the parties may from time to time agree in writing that FIRST PARTY, for additional compensation, shall perform additional services including but not limited to: • Change in the services because of changes in scope of the work. • Additional tasks not specified herein as required by the CITY. The CITY and FIRST PARTY shall agree in writing to any changes in compensation and/or changes in FIRST PARTY’s services before the commencement of any work. If FIRST PARTY deems work he/she has been directed to perform is beyond the scope of this agreement and constitutes extra work, FIRST PARTY shall immediately inform the CITY in writing of the fact. The CITY shall make a determination as to whether such work is in fact beyond the scope of this agreement and constitutes extra work. In the event that the CITY determines that such work does constitute extra work, it shall provide compensation to the FIRST PARTY in accordance with an agreed cost that is fair and equitable. This cost will be mutually agreed upon by the CITY and FIRST PARTY. A supplemental agreement providing for such compensation for extra work shall be negotiated between the CITY and the FIRST PARTY. Such

  • Schedule of Services Consultant shall perform the Services in a prompt and timely manner in accordance with the Schedule of Services set forth in Exhibit "B" attached hereto and incorporated herein by reference. Consultant represents that it has the professional and technical personnel required to perform the Services expeditiously. Upon request of City, Consultant shall provide a more detailed schedule of anticipated performance to meet the Schedule of Services.

  • THE FIRST SCHEDULE ABOVE REFERRED TO PART - I ON THE NORTH: . ON THE SOUTH: . ON THE EAST: . ON THE WEST: .‌ ALL THAT the new “Building” consisting of , and BHK Apartments having One Block of Apartments a total of _ apartments of different types in G+ storied Block including such other constructions and/or structures, as per the sanctioned Plan bearing No. Building Plan(s) Memo No. dated and obtained Completion Certificate dated on upon the Premises more particularly described in the First Schedule herein above.