Reso 2025-3779 - Laserfiche WebLink

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City of Sunny Isles Beach 18070 Collins Avenue, Sunny Isles Beach, Florida 33160 (305) 947-0606 phone (305) 949-3113 Fax (b) Subcontractor's profit may then be added to the above material costs and labor costs including the Overhead allowance at the rate of SEVEN PERCENT (7%) of the sum of those costs, excluding equipment rental costs. (c) Contractor's overhead, including general supervision and the furnishing, use and maintenance of small tools incidental to and required for the Work accomplished by its own direct labor shall be considered to be just and fully compensated for by adding an amount equal to FIVE PERCENT (5%) of the sum of material and labor costs as defined under Material costs and Labor costs below, but excluding equipment rental costs and bond allowance. (d) Contractor's overhead, including general supervision and the furnishing, use and maintenance of small tools and equipment incidental to and required for the Work accomplished by subcontractors shall be considered to be just and fully compensated for by adding an amount equal to FIVE PERCENT (5%) of the sum of material and labor costs as defined under Material costs and Labor costs below, but excluding equipment rental costs and bond allowance. (e) Contractor's profit may then be added into the above material costs and labor costs, including the Overhead allowance at the rate of SEVEN PERCENT (7%) of the sum of those costs, excluding equipment rental costs. 10.3.3.5 Bond Allowance: For maintaining the Public Construction Bond at 100% of the Contract Price, a sum of ONE PERCENT (10/6) of the total cost of the change (including material, labor, overhead and profit, and equipment rental) shall be allowed on all change orders. 10.3.3.6 Material costs actually recorded by the Contractor and the subcontractor as materials are delivered to the site and, as evidenced from originally receipted invoices, listing appropriate quantities and unit prices. Records in proper form shall be maintained and made available to the City's Representative and the City at all times. Material costs shall be at actual cost inclusive of conduit, couplers, elbows, glue, end caps, pull string / tape, and delivery charges based on the Consumer Pricing Index (CPI) effective August 1, 2023. The parties agree that a subsequent evaluation of material costs will be accomplished every sixty (60) days after the issuance of the Notice to Proceed to assess variances in market pricing for material. Should it become necessary or proper during the term of the Contract to adjust the Contract Price for variations in material costs based upon the CPI, the parties agree that an equitable adjustment to the material costs for either increases or decreases shall be accomplished by either a change in the Contract Price utilizing a Change Order, or by contingency expenditure. 10.3.3.7 Labor Costs represented by the actual wages paid to all laborers, apprentices, journeymen, and foremen involved in and necessary to completing the particular construction operations, for each day and every hour such labor COMTECH ENGINEERING, INC. 27