Schedule “B”
Examples of the calculation of the Claim amount for determining Fee for Estimate if Constructco does not carry out restoration project
Example 1 (Estimate AFTER Adjuster’s Initial Appraisal) |
Restoration |
$22,000 |
Emergency Clean-Up (not performed by Constructco) |
$1,000 |
Packout & Storage (not performed by Constructco) |
$1,000 |
All Other Items (not performed by Constructco) |
$1,000 |
Adjuster’s Initial Appraisal |
$25,000 |
After Constructco’s Estimate |
Restoration (not performed by Constructco) |
$27,000 |
Emergency Clean-Up (not performed by Constructco) |
$1,000 |
Packout & Storage (not performed by Constructco) |
$1,000 |
All Other Items (not performed by Constructco) |
$1,000 |
Claim Settlment Amount |
$30,000 |
Deposit toward Fee for Estimate |
$695 |
Total Fee for Estimate ($30,000 – $25,000 = $5,000 x 20%) |
$1,000 |
Balance of Fee for Estimate Due ($1,000 – $695) |
$305 |
Example 1 – Returned to Owner by Constructco
($30,000 – $305) |
$29,695 |
Example 2 (Estimate AFTER Adjuster’s Initial Appraisal) |
Restoration |
$22,000 |
Emergency Clean-Up (not performed by Constructco) |
$1,000 |
Packout & Storage (performed by Constructco) |
$1,000 |
All Other Items (not performed by Constructco) |
$1,000 |
Adjuster’s Initial Appraisal |
$25,000 |
After Constructco’s Estimate |
Restoration (not performed by Constructco) |
$27,000 |
Emergency Clean-Up (not performed by Constructco) |
$1,000 |
Packout & Storage (performed by Constructco) |
$1,000 |
All Other Items (not performed by Constructco) |
$1,000 |
Claim Settlment Amount |
$30,000 |
Deposit toward Fee for Estimate |
$695 |
Total Fee for Estimate ($30,000 – $25,000 = $5,000 x 20%) |
$1,000 |
Balance of Fee for Estimate Due ($1,000 – $695) |
$305 |
Packout & Storage Fee |
$1,000 |
Example 2 – Returned to Owner by Constructco
($30,000 – ($305 + $1,000) |
$28,695 |
Example 3 (Estimate AFTER Adjuster’s Initial Appraisal) |
Restoration |
$22,000 |
Emergency Clean-Up (not performed by Constructco) |
$1,000 |
Packout & Storage (not included by Adjuster) |
$0 |
All Other Items (not performed by Constructco) |
$1,000 |
Adjuster’s Initial Appraisal |
$24,000 |
After Constructco’s Estimate |
Restoration (not performed by Constructco) |
$27,000 |
Emergency Clean-Up (not performed by Constructco) |
$1,000 |
Packout & Storage (recommended & performed by Constructco) |
$1,000 |
All Other Items (not performed by Constructco) |
$1,000 |
Claim Settlment Amount |
$30,000 |
Deposit toward Fee for Estimate |
$695 |
Total Fee for Estimate ($30,000 – $24,000 = $6,000 x 20%) |
$1,200 |
Balance of Fee for Estimate Due ($1,000 – $695) |
$505 |
Packout & Storage Fee |
$1,000 |
Example 3. Returned to Owner by Constructco
($30,000 – ($505 + $1,000) |
$28,495 |
Example 4 (Estimate AFTER Adjuster’s Initial Appraisal) |
Restoration |
$22,000 |
Emergency Clean-Up (not performed by Constructco) |
$1,000 |
Packout & Storage (not included by Adjuster) |
$0 |
All Other Items (not performed by Constructco) |
$1,000 |
Adjuster’s Initial Appraisal |
$24,000 |
After Constructco’s Estimate |
Restoration (not performed by Constructco) |
$27,000 |
Emergency Clean-Up (not performed by Constructco) |
$1,000 |
Packout & Storage (recommended but not performed by Constructco) |
$1,000 |
All Other Items (not performed by Constructco) |
$1,000 |
Claim Settlment Amountd |
$30,000 |
Deposit toward Fee for Estimate |
$695 |
Total Fee for Estimate ($30,000 – $24,000 = $6,000 x 20%) |
$1,200 |
Balance of Fee for Estimate Due ($1,200 – $695) |
$505 |
Example 4. Returned to Owner by Constructco
($30,000 – $505) |
$29,495 |
Example 5 (Estimate BEFORE Adjuster’s Initial Appraisal) |
Restoration (not performed by Constructco) |
$25,000 |
Emergency Clean-Up (not performed by Constructco) |
$1,000 |
Packout & Storage (not performed by Constructco) |
$1,000 |
All Other Items (not performed by Constructco) |
$1,000 |
Claim Settlment Amount |
$30,000 |
Deposit toward Fee for Estimate |
$895 |
Total Fee for Estimate ($30,000 x 5% ) |
$1,500 |
Balance of Fee for Estimate Due ($1,500 – $895) |
$605 |
Example 5. Returned to Owner by Constructco
($30,000 – $605) |
$29,395 |
Example 6 (Estimate BEFORE Adjuster’s Initial Appraisal) |
Restoration (not performed by Constructco) |
$25,000 |
Emergency Clean-Up (not performed by Constructco) |
$1,000 |
Packout & Storage (performed by Constructco) |
$1,000 |
All Other Items (not performed by Constructco) |
$1,000 |
Claim Settlment Amount |
$30,000 |
Deposit toward Fee for Estimate |
$895 |
Total Fee for Estimate ($30,000 x 5% ) |
$1,500 |
Balance of Fee for Estimate Due ($1,500 – $895) |
$605 |
Packout & Storage Fee |
$1,000 |
Example 6. Returned to Owner by Constructco
($30,000 – ($605 + $1,000) |
$28,395 |