Cost Plus - Residential

SCHEDULE 1 (Refer Clause 17 of the Contract)

PART A - Cost of Works which are Payable by the Owner or at the direction of the Builder The Cost of Works which are payable by the Owner include: (a) Wages and other entitlements payable to the Builder ’s employees or payable by reason of such employment relevant to the works. For example - wages, superannuation, workers compensation insurance, long service leave, redundancy and any other statutory or industrial entitlement. See Schedule 2 Item (a) for specific agreed rates for some employees. (b) Costs for the individual Builder or Builder’s director (or that of site supervisor) carrying out work, including administrative work, under the contract at the rate specified, being $__________.________ per hour. If no rate is specified the rate to be relied upon will be that detailed in the most current Master Builders Association of NSW charge out schedule for the classification of carpenter unless otherwise agreed. (c) The cost of having a service provided or a task done in order to have the works carried out, monitored, reviewed, certified and or approved. For example – surveyor’s fees, engineer’s fees, council fees, insurance costs or any other cost, fee, expense paid or payable because of the work. (d) The cost of all work carried out by trade contractors engaged by the Builder to carry out work at the work site or in relation to the works. This cost is conclusively evidenced by an invoice or statement of costs from the trade contractor. (e) Cost of all goods and materials ordered or/and paid for by the Builder necessary to carry out the works. (f) The cost of hiring equipment necessary to enable the Builder to carry out the works. (g) The cost as nominated at Schedule 2(b), for the use of the plant and equipment which is already owned by the Builder or which is acquired by the Builder to carry out work. (h) The cost of correcting, modifying or changing work already completed, which is changed by reason of a variation by the Owner , or which is defective for reasons other than due to materials provided by the Builder or the workmanship of the Builder . (i) The cost of complying with any site specific issues as to safety, pollution and or waste disposal, as directed by a relevant Authority or the Owner or the Owner ’s agents. (j) Any other cost or expense which the Builder is liable for and/or incurs by reason of the Builder carrying out work pursuant to this contract including, but not limited to, insurance costs and materials owned by the Builder . The Owner will pay to the Builder the Cost of Works as determined pursuant to Schedule 1 Part A together with a fee of $_____________________________(the fee). The fee will be paid on a pro rata basis over the construction period under the contract ( see Schedule 2(c) ) and at that times specified by reason of Clauses (b) and (c) which follow. If the construction period is extended pursuant to the provisions of the contract the fee payable will increase on a pro rata or proportionate basis to reflect the increased construction period. AMPLE PART B – Fees [Choose the appropriate alternative for sub-paragraph (a)] (a) COST OF WORKS PLUS PERCENTAGE BASIS - (Alternative 1) The Owner will pay to the Builder the Cost of Works as determined pursuant to Schedule 1 Part A , together with an additional fee equal to __________________% of the Cost of Works and those items referred to in Sub-Clause 17(a)(ii) . This fee is to be applied to a sum covering the Cost of Works which is determined on a GST exclusive basis. See also Clause 14(e) which may become applicable. OR (a) COST OF WORKS PLUS NOMINATED LUMP SUM BASIS - (Alternative 2)

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