Replacement Cost Estimate

Replacement Cost Estimate

Estimate No.:    Date Prepared:

Parties and Project Information

Estimator Name:

Recitals

WHEREAS, Estimator has provided professional evaluation services to determine the estimated replacement cost for the items and work described in this document for the property located at the Project / Property Address; and

WHEREAS, Client desires to obtain a written estimate of the Replacement Cost, subject to the assumptions, exclusions and terms set forth in this Estimate, and Estimator is willing to provide such estimate under the terms herein; and

WHEREAS, the parties acknowledge that this document constitutes an estimate of current replacement cost and not a guarantee or warranty of constructability, availability of materials, or final contract pricing.

Scope of Work

The Scope of Work includes replacement of damaged components with new components of like kind and quality where available. Estimator's responsibilities are limited to preparation of this written Replacement Cost Estimate; procurement, contracting, permitting, and construction administration are expressly excluded unless otherwise agreed in writing.

Itemized Estimate

The following line items represent Estimator's good faith opinion of direct replacement costs as of the date prepared. Quantities, unit costs, and totals are estimates and may be adjusted upon detailed bidding or procurement.

Assumptions and Exclusions

The estimate assumes reasonable availability of materials and typical site conditions. The estimate expressly excludes latent conditions, hazardous materials remediation, unforeseen structural repairs, and permit fees unless specifically listed above. Final costs are subject to market conditions at time of procurement.

Payment Terms

Total Estimate Amount:

Late Payment Fee: . Client agrees to pay accrued interest and reasonable collection costs on overdue amounts.

Term and Termination

Estimate Effective Date:    Estimate Expiration Date:

Either party may terminate any further obligations under this Estimate upon written notice to the other party delivered at least days prior to the proposed termination date. Termination does not relieve Client of payment for services rendered or costs incurred prior to termination.

Confidentiality

All information, cost schedules, methodolgy, and pricing provided in this Estimate shall be treated as Confidential Information by the parties and shall not be disclosed to third parties except as required by law or as necessary for procurement and construction. Confidential Information may be disclosed to contractors and insurers under confidentiality obligations.

  Client acknowledges and agrees that this Estimate contains confidential proprietary cost information and will not be used for competitive bidding distribution without Estimator's prior written consent.

Governing Law

This Estimate and any dispute arising out of or relating to it shall be governed by and construed in accordance with the laws of the State of without regard to its conflicts of law principles.

Entire Agreement

This Replacement Cost Estimate, together with any attached schedules, assumptions and exclusions, constitutes the entire agreement between the parties with respect to the subject matter herein and supersedes all prior proposals, representations and understandings, whether written or oral. Any amendment or modification must be in writing and signed by both parties.

Acknowledgment and Certification

Estimator certifies that, to the best of its knowledge, the prices and quantities set forth in this Estimate are reasonable and reflect current market conditions as of the Estimate Prepared Date. This Estimate is an opinion of probable replacement cost and is not a bid, contract, or binding offer to perform construction unless separately executed as a contract.

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