Quotation Estimate Economist in United States Chicago –Free Word Template Download with AI

This Quotation Estimate is issued by Meridian Economic Advisory Group, LLC in response to the formal Request for Proposal (RFP No. CMEDA-2025-114) submitted by the Chicago Metropolitan Economic Development Authority. The purpose of this document is to provide a comprehensive, itemized cost breakdown for the engagement of a Economist and supporting analytical team to deliver macroeconomic forecasting, labor market analysis, and policy advisory services specifically tailored to the economic landscape of United States Chicago and the broader Chicagoland metropolitan statistical area.

The Economist engagement described herein encompasses a twelve-month advisory contract commencing August 1, 2025, and concluding July 31, 2026. All services will be rendered in accordance with the professional standards established by the American Economic Association and the Illinois Department of Financial and Professional Regulation. The scope of work is designed to address the unique economic conditions present in United States Chicago, including the city's manufacturing legacy, its growing technology and financial services sectors, and the ongoing impacts of post-pandemic labor market restructuring on the region's GDP trajectory.

• 3.1 Validity: This Quotation Estimate shall remain valid for a period of thirty (30) calendar days from the date of issue. After this period, all rates and fees are subject to revision based on prevailing market conditions in United States Chicago.
• 3.2 Payment Schedule: Invoices shall be issued on a monthly basis, payable within thirty (30) days of receipt. A 15% retainer is due upon execution of the contract. Late payments shall accrue interest at 1.5% per month as permitted under Illinois law (815 ILCS 205).
• 3.3 Scope Changes: Any modification to the scope of the Economist engagement beyond the parameters outlined in this document shall require a written change order signed by both parties. Additional hours will be billed at the applicable hourly rate specified in Section 2.
• 3.4 Confidentiality: All data, forecasts, and policy recommendations produced by the Economist team shall be treated as proprietary to the Chicago Metropolitan Economic Development Authority unless otherwise agreed in writing. This obligation survives contract termination for a period of five (5) years.
• 3.5 Termination: Either party may terminate this engagement with sixty (60) days written notice. In the event of termination, the client shall be invoiced for all services rendered through the termination date, including a 10% wind-down fee.
• 3.6 Governing Law: This Quotation Estimate and any resulting contract shall be governed by and construed in accordance with the laws of the State of Illinois, United States. Any disputes shall be resolved through binding arbitration in Chicago, Cook County, Illinois, in accordance with the rules of the American Arbitration Association.
• 3.7 Insurance: Meridian Economic Advisory Group, LLC maintains professional liability insurance with a minimum coverage of $2,000,000 per occurrence, as well as general liability and workers' compensation coverage compliant with Illinois statutory requirements.
• 3.8 Non-Compete: The lead Economist shall not provide competing advisory services to any other municipal or regional economic development authority within the United States Chicago metropolitan area during the term of this engagement and for a period of twelve (12) months thereafter.

By signing below, the undersigned parties acknowledge that this Quotation Estimate accurately reflects the agreed-upon scope, deliverables, and compensation for the Economist engagement in United States Chicago. This document constitutes a binding offer upon full execution by both parties.