Off-Site Stored Materials

Off-Site Stored Materials. Contracts may include a provision allowing for the payment of construction materials stored at some location other than the project site subject to the following: A. An acceptable Lease Agreement between the Contractor and the Owner of the land, or building, where the materials are stored covering the specific area where the materials are located is provided. B. Consent of Surety, or other acceptable Bond, to cover where the materials are located is provided. C. All Perils Insurance coverage for the full value of the material stored off-site is provided. D. A Bill of Sale from the Manufacturer to the Contractor for the stored materials is provided. E. A complete list and inventory of materials manufactured, stored and delivered to the storage site and of materials removed from the storage site and delivered to the job site is provided. F. A review by the Owner and/or his representative of the materials stored off-site prior to release of payment is conducted. Where storage location is greater than 50 miles of the project site, the Contractor shall pay or reimburse reasonable travel cost of the Owner or his representative for such review. G. Guarantee of no storage costs, additional handling or delivery fees, or subsequent cost to the Owner is provided.