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  2. Finance Committee - Agenda - 6/7/2017 - P175

Finance Committee - Agenda - 6/7/2017 - P175

By dnadmin on Mon, 11/07/2022 - 10:23
Document Date
Wed, 06/07/2017 - 00:00
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 06/07/2017 - 00:00
Page Number
175
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__060720…

3. Any part of CONTRACTOR's capital expense, including interest on CONTRACTOR's capital employed
for the Work and charges against CONTRACTOR for delinquent payments.

4. Costs due to the negligence of CONTRACTOR, any Subcontractor, or anyone directly or indirectly
employed by any of them or for whose acts any of them may be liable, including but not limited to, the
correction of defective Work, disposal of materials or equipment wrongly supplied, and making good any
damage to property.

5. Other overheard or general expense costs of any kind and the costs of any item not specifically and
expressly included in paragraphs 11.01.A and 11.01.B.

C. CONTRACTOR's Fee: When all the Work is performed on the basis of cost-plus, CONTRACTOR's fee shall
be determined as set forth in the Agreement. When the value of any Work covered by a Change Order or when a
Claim for an adjustment in Contract Price is determined on the basis of Cost of the Work, CONTRACTOR’s fee
shall be determined as set forth in paragraph 12.01.C.

D. Documentation: Whenever the cost of the Work for any purpose is to be determined pursuant to paragraphs
11.01.A. and 11.01.B, CONTRACTOR will establish and maintain records thereof in accordance with generally
accepted accounting practices and submit in a form acceptable to ENGINEER as itemized cost breakdown
together with supporting data.

11.02 Cash Allowances

A. It is understood that CONTRACTOR has included in the Contract Price all allowances so named in the
Contract Documents and shall cause the Work so covered to be performed for such sums as may be acceptable to
OWNER and ENGINEER. CONTRACTOR agrees that:

1. The allowances include the cost to CONTRACTOR (less any applicable trade discounts) of materials and
equipment required by the allowances to be delivered at the Site, and all applicable taxes; and

2. CONTRACTOR's costs for unloading and handling on the Site, labor, installation costs, overhead, profit,
and other expenses contemplated for the allowances have been included in the Contract Price and not in
the allowances, and no demand for additional payment on account of any of the foregoing will be valid.

B. Prior to final payment, an appropriate Change Order will be issued as recommended by ENGINEER to reflect
actual amounts due CONTRACTOR on account of Work covered by allowances, and the Contract Price shall be
correspondingly adjusted.

11.03 Unit Price Work

A. Where the Contract Documents provide that all or part of the Work is to be Unit Price Work, initially the
Contract Price will be deemed to include for all Unit Price Work an amount equal to the sum of the unit price for
each separately identified item of Unit Price Work times the estimated quantity of each item as indicated in the
Agreement. The estimated quantities of items of the Unit Price Work are not guaranteed and are solely for the
purpose of comparison of Bids and determining an initial Contract Price. Determinations of the actual quantities
and classifications of Unit Price Work performed by CONTRACTOR will be made by ENGINEER subjects to
the provisions of paragraph 9.08

B. Each unit price will be deemed to include an amount considered by CONTRACTOR to be adequate to cover
CONTRACTOR's overhead and profit for each separately identified item.

GC - 42 of 57

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Finance Committee - Agenda - 6/7/2017 - P175

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