The "Form of Compensation" area of the Project Information View provides a series of radio buttons that allow you to stipulate how you will be compensated for the professional services you rendered. Select one of the following forms of compensation to use as the basis for determining payment for the architectural services.
FIXED FEE: A stipulated lump sum with a fixed total fee. Contract language includes provisions for additional services, reimbursable expenses, etc...
DIRECT EXPENSE (HOURLY): Fees are based on hours logged for the project and personnel hourly rates stipulated in the contract. Select "Hourly" from the drop-down list for "Phase Fee" for those phases that do not have an established upset fee.
DIRECT EXPENSE (HOURLY W/ UPSET): Fees are based on actual hours logged for the project and personnel hourly rates stipulated in the contract. A maximum total fee (upset) must be entered in each "Phase Fee" to establish the total upset amount.
MULTIPLE FORMS OF COMPENSATION: Fee for services is based on any combination of Fixed Fee, Hourly and/or Percentage of Construction Cost. Different forms of compensation may be stipulated for each phase of the project.
PERCENT OF CONSTRUCTION COST: Fee for services based on the user defined fixed percentage rate entered in the field provided. Estimated Construction Cost is multiplied by the fixed percentage rate to determine actual fees for services.
NOTE: Contract language for "Percent of Constr. Cost" form of compensation states that percentage rate will be applied to the greater of either the "Estimated Constr. Cost" or the actual total construction cost of the completed project.
TIP: Select the [Click Here] text to view and/or revise the default language that is delineated in the proposal/contract.