Schedule Of Values
A Schedule of Values (SOV) is a detailed schedule apportioning the original contract sum and all change orders, among all cost code divisions or portions of the work. The Schedule of Values shall be based on the approved budget or the approved Fixed Price, or GMP, Cost-Plus Contract type as applicable. See the executed contract agreement for additional language regarding the Schedule of Values. Each Project/Job shall have a separate Schedule of Values. If multiple Projects/Jobs are included in one contract, then the Contractor/Vendor must create a separate Schedule of Values which clearly segregates costs among each Job for billing, reporting and audit purposes." "For Projects/Jobs with multiple “extra” categories, the Contractor/Vendor must create separate Schedule of Values which clearly segregates costs among each “Extra” category for billing, reporting and audit purposes (breakdown to be determined by Owner.) The Schedule of Values must be approved prior to first Payme ...
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