Cost Overrun Law and Legal Definition
Cost overrun is the amount of money that exceeds the settled upon cost of a construction project. Most construction contracts contain a limitation of cost clause which allows the contractor to recover the cost overrun if the contractor gave notice that seventy five percent of the costs would be exceeded.
Legal Definition list
Related Legal Terms
- Above the Line Costs (Entertainment Law)
- Absorption Costing
- Accelerated Cost Recovery System
- Acquisition Cost of an Item of Purchased Equipment
- Acquisition Cost of Equipment [Education]
- Activity-Based Costing
- Actuarial Cost Assumptions
- Actuarial Cost Method
- Administrative Cost of Issuing a Loan Guarantee
- Administrative Settlement Costs
