CHANGES IN CONTRACT PRICE. 5.01 The amount of any increases or decreases in the Contract Price which results from a Change Order shall be set forth in the applicable Change Order subject to the following: 1. In the case of net additions in the Work, the amount of any increase in the Contract Price shall be determined in accordance with paragraph 11.01 of the Standard General Conditions. 2. In the case of net deletions in the Work, the amount of any such decrease shall be determined in accordance with paragraph 11.01 of the Standard General Conditions, and any Contract Price shall be reduced by mutual agreement.
Appears in 2 contracts
Sources: Design/Build Agreement (Nova Oil Inc), Contract Between Owner and Design/Builder (Nova Oil Inc)