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SECTION 01026 <br /> 1 . 1 GENERAL SCHEDULE OF VALUES <br /> ' A . The Schedule of Values is an itemized list that establishes the value or cost of each <br /> part of the Work . It shall be used as the basis for preparing progress payments and <br /> may be used as a basis for negotiations concerning additional work or credits that <br /> may arise during the construction . <br /> 1 . 2 PREPARATION <br /> A . The schedule shall show breakdown of labor, materials , equipment, and other costs <br /> used to prepare the Bid . <br /> B . Costs shall be in sufficient detail to indicate separate amounts for each Section of <br /> the Specifications . <br /> C . Schedule of Values shall be prepared on 8 - 1 /2- inch by 11 - inch white paper, <br /> D . Use the Bid Tabulation Form as the basis for the Schedule of Values format , <br /> modified to include columns for labor, materials , equipment , and other costs used to <br /> prepare the Bid . <br /> E . When requested by ENGINEER support values with data that substantiates their <br /> correctness . <br /> F . The sum of the individual values shown on the Schedule of Values must equal the <br /> total Contract Price . <br /> G . Each item shall include a directly proportional amount of the CONTRACTOR's <br /> overhead and profit . <br /> H . Schedule shall show the purchase and delivery costs for materials and equipment <br /> ' that the CONTRACTOR anticipates he shall request payment for prior to their <br /> installation . <br /> 1 . 3 SUBMITTAL <br /> A . Submit two copies of Schedule to ENGINEER for approval at least 20 days prior to <br /> ' submitting first application for a progress payment . Revise and resubmit Schedule <br /> as required until it is approved . <br /> + + END OF SECTION + + <br /> Last revised 3/12/03 01026- 1 HARMONY OAKS <br /> FAPublic Works\KeithM\Stormmter Projects\Harmony Oaks Mitigation Project\Construction Contract\Technical Specibations\Draft <br /> ' Specifications\Div- 1 \01026 - Schedule ofValues.doc <br />