IMCO General Construction, Inc. 6/10/2024

1.04 FORMAT, ORGANIZATION, AND CONTENT OF SCHEDULE OF VALUES A. Organization and Major Elements of Schedule of Values. 1. Prepare Schedule of Values on the progress estimate of the application for payment. 2. Include in Schedule of Values itemized list of Work for each major work area included in the Work, for each lump sum item included in the Contract. 3. In addition, list either in the Schedule of Values or on a separate worksheet included with applications for Payment all Unit Price Work bid items in the Contract. 4. Organization in Accordance with Specification Sections: a. Within each work area, organize the Schedule of Values by the various specifications section numbers. b. Label each row in the Schedule of Values with the appropriate specifications section number. Include an amount for each row in the Schedule of Values. c. List sub -items of major materials, equipment, or systems, as appropriate or when requested by Engineer. B. Requirements for both the preliminary Schedule of Values submittal and the final Schedule of Values submittal for Engineer's acceptance are: 1. Subcontracted Work: a. Schedule of Values shall indicate division of Work between Contractor and each subcontractor. b. Line items for Work to be performed by each Subcontractor shall include the word, SUBCONTRACTED and the name of the subcontractor once the associated subcontract is signed and effective. 2. Apportionment between Materials and Equipment, and Installation: Schedule of Values shall include separate apportionment of costs for: a. Cost of materials and equipment to be incorporated into the completed construction. b. Cost of delivery, handling, and storage of materials and equipment to be incorporated into the completed construction. c. Cost of temporary materials (such as excavation supports, scaffolding, and other temporary materials), and their associated delivery, handling, and storage costs. d. Cost of rentals of construction equipment and machinery, whether owned by Contractor or subcontractor or leased from a third -party equipment rental company. e. Cost of installing materials and equipment. f. Travel and subsistence costs, if any. g. Other costs used in preparing the Bid by Contractor and each subcontractor. 3. Sum of individual line item amounts indicated on the Schedule of Values shall equal the total of associated bid item. Sum of bid item totals in the Schedule of Values, plus the sum of any separate listing of Unit Price Work items, shall equal the total Contract Price. 4. Overhead and Profit: a. Include in each line item a directly proportional amount of Contractor's overhead and profit in the Contract Price. b. Do not include overhead and profit as separate line items. 5. Allowances: Include separate line item for each allowance. 6. Unit Price Work: Separately indicate items of Unit Price Work in the overall Schedule of Values. Where the required form, in accordance with the progress payment procedures, includes a separate worksheet or page for Unit Price Work, indicate all items of Unit Price Work on such worksheet or page of the form. 7. Bonds and Insurance Costs: a. Include line item for bonds and insurance in bid item for Mobilization in an amount not greater than 1.5 percent of the total Contract Price. b. When greater than the amount stipulated immediately above is proposed by Contractor in the Schedule of Values, submit to Engineer documentation substantiating the proposed amounts. Submit to Engineer such documentation when otherwise requested by Engineer. c. When Contractor has furnished performance and payment bonds and evidence of insurance acceptable to Owner and in accordance with the Contract Documents, entire amount for bonds and insurance may be applied for in the Application for Payment. Reservoir 3 Replacement Phase 1 Work Order No. UP3739 01 29 73 SCHEDULE OF VALUES March 2024