Ala. Admin. Code r. 355-14-1-.04

Current through Register Vol. 42, No. 12, September 30, 2024

Section 355-14-1-.04 - Project Budget

The agreement shall stipulate an agreed amount that is budgeted for the cost of the planned construction or improvement work. This amount shall not only establish the project budget, but shall also be the basis for establishing the basic fee to be paid the primary design professional. The project budget may be a fixed, lump sum amount or it may be an amount that is tentative pending development of design and cost estimates by the design professional. If the project budget is tentative, the budgeted amount shall be validated by the design professional or mutually adjusted by the contracting parties prior to advertising the project for bids.

Ala. Admin. Code r. 355-14-1-.04

Repealed and Repealed: Filed August 29, 1997; effective October 3, 1997.

Author: Stedmann B. McCollough, Director

Statutory Authority:Code of Ala. 1975, § 41-9-141.