Common use of Time & Cost Estimates Clause in Contracts

Time & Cost Estimates. A Contract Document may contain Estimates of the time and costs associated with individual or groups of tasks, responsibilities or work to be performed by a Party. Such Estimates are based on the best available information at the time, but are not binding or conclusive and will be impacted by the discovery and identification of new information, issues, requirements and technical problems as a Project progresses. If either Party is aware or becomes aware of an issue that will impact a time or cost Estimate, it will use its commercially reasonable best efforts to promptly inform the other. The Parties will then work together in good faith to prepare and agree to an appropriate Change Request reflecting the new information. Time and cost Estimates provided by the Parties are not to be considered as contractually binding minimums, maximums or fixed prices unless a Contract Document specifically provides otherwise. All work performed by DataSync under this Agreement is performed for and will be billed to Client, on a time and materials basis.

Time & Cost Estimates. A Contract Document may contain Estimates of the time and costs associated with individual or groups of tasks, responsibilities or work to be performed by a Party. Such Estimates are based on the best available information at the time, but are not binding or conclusive and will be impacted by the discovery and identification of new information, issues, requirements and technical problems as a Project progresses. If either Party is aware or becomes aware of an issue that will impact a time or cost Estimate, it will use its commercially reasonable best efforts to promptly inform the other. The Parties will then work together in good faith to prepare and agree to an appropriate Change Request reflecting the new information. Time and cost Estimates provided by the Parties are not to be considered as contractually binding minimums, maximums or fixed prices unless a Contract Document specifically provides otherwise. All work performed by DataSync under this Agreement is performed for and will be billed to Client, (Last Revised on a time and materials basis.06/01/16)