Common use of Change Pricing Clause in Contracts

Change Pricing. In the absence of applicable unit prices or other agreement, the changed work will be priced in accordance with the following provisions: i. In no case shall the sum of the individual markups applied to a General Contractor’s Modification exceed fifteen percent (15%), regardless of the number of Subcontractor tiers involved in performing the Work. ii. The total combined ▇▇▇▇-up for a Subcontractor and his lower-tier Subcontractor shall not exceed ten percent (10%). Costs of tax and insurance shall not be marked up. iii. For work performed by a subcontractor, the subcontractor will receive 10% markup for direct costs. The General Contractor shall receive a five percent (5%) of the subcontractor's direct costs for processing. iv. For self-performed work by the General Contractor, the markup shall equal fifteen percent (15%) of the direct cost as defined herein. v. Bonding may be increased a maximum of one percent (1%) provided the Contractor demonstrates to the District a requirement to increase bonding. vi. If the net value of a change results in a credit from the Contractor or subcontractor, the credit shall be the actual net cost, plus five percent (5%) for overhead and profit. When both additions and credits covering related work or substitutions are involved in any one change, the allowance for overhead and profit shall be figured on the basis of the net increase or decrease, if any, with respect to the change.