Pre-Funded Contingency Amount
The Pre-Funded Contingency Amount was a $10 million dollar contingency fund built into the Bridge budget to cover certain cost overruns that might have occurred. With the termination of the DCBC's involvement, and the Concession Agreement, the classification of overruns is now moot.
The Pre-Funded Contingency Amount and its use for cost overruns was set out in the Concession Agreement, and the disposition of any residual amount in Schedule 13. Once construction was complete, any remaining amount of the fund was to have been allocated into three equal shares. One third went to the DCBC, one third to the GNWT, and the remaining third to a joint "rehabilitation fund" managed by both parties which will pay for unanticipated repairs over the life of the bridge.
|This artice defines a term from the now-terminated Concession Agreement.|