WebSep 6, 2024 · Regardless of actual costs, the contractor will be paid that one lump sum. Contractor do not need to open their books to the clients, and individual costs are not reimbursed. With lump sum projects, contractors are paid the agreed upon price and any savings from coming under budget goes to them. WebThe Contract Sum is the Cost of the Work as defined in Article 7 plus the Contractor’s Fee. § 5.1.1 The Contractor’s Fee: (State a lump sum, percentage of Cost of the Work, or other provision for determining the Contractor’s Fee.)

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WebView the related practice notes about Contract sum Payment in consultant appointments. Payment in consultant appointments Consultant appointments and the HGCRA 1996 … WebApr 12, 2024 · Works and Housing Minister, Babatunde Fashola, says the augmentation was in the sum of N17 billion which revised the contract sum to N49 billion with an additional completion time of 42 months.’’ chin chin offers

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WebARTICLE 4 CONTRACT SUM § 4.1 The Owner shall pay the Contractor the Contract Sum in current funds for the Contractor’s performance of the Contract. The Contract Sum shall … WebARTICLE 4 CONTRACT SUM § 4.1 The Owner shall pay the Contractor the Contract Sum in current funds for the Contractor’s performance of the Contract. The Contract Sum shall be ( $ ), subject to additions and deductions as provided in the Contract Documents. § 4.2 Alternates § 4.2.1 Alternates, if any, included in the Contract Sum: Weban adjustment in the contract sum or the contract time. A change order may be signed by the architect or engineer, provided they have written authority from the owner for such procedure and that a copy of such written authority is furnished to the contractor upon request. The contract sum and the contract time may be changed only by change order. chin chin on rucker road