Changes in the Contract Price Clause Samples
The "Changes in the Contract Price" clause defines how adjustments to the agreed-upon price of a contract are handled when modifications to the scope of work or project requirements occur. Typically, this clause outlines the procedures for requesting, approving, and documenting any price changes, such as through written change orders or amendments. Its core practical function is to provide a clear and fair process for both parties to address unforeseen changes, ensuring that compensation accurately reflects the work performed and preventing disputes over payment.
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Changes in the Contract Price. 10.3.1 Any change in the Contract Price resulting from a Change Order shall be determined as follows by mutual agreement between the City and the Contractor as evidenced by (1) the change in the Contract Price being set forth in the Change Order, (2) such change in the Contract Price, together with any conditions or requirements related thereto, being initialed by both parties and (3) the Contractor’s execution of the Change Order.
10.3.2 If unit prices are provided in the Contract, and if the quantities contemplated are so changed in a proposed Change Order that application of such unit prices to the quantities of Work proposed will cause substantial inequity to the City or to the Contractor, the applicable unit prices shall be equitably adjusted.
Changes in the Contract Price. Any change in the Contract Price resulting from a Change Order shall be determined as follows: (a) by mutual agreement between County and Contractor as evidenced by (1) the change in the Contract Price, together with any conditions or requirements related thereto, being initialed by both parties and (2) Contractor's execution of the Change Order.
Changes in the Contract Price. A. The Owner reserves the right to make such additions, deletions, or changes to the Work as may be necessary in its sole and absolute discretion to complete the Work. If the CMR believes that any particular Work is not within the scope of the Project or is a material change or otherwise will call for more compensation to the CMR, the CMR must immediately Notify the Project Manager after the change or event occurs and within ten
Changes in the Contract Price. 9.3.1 Any change in the Contract Price resulting from a Change Order shall be determined as follows:
(a) by mutual agreement between the Owner and the Contractor as evidenced by (1) the change in the Contract Price being set forth in the change Order, (2) such change in the contract Price, together with any conditions or requirements related thereto, being initialed by both parties and (3) the Contractor's execution of the Change Order, or (b) if no mutual agreement occurs between the Owner and the Contractor, then as provided in Subparagraph 9.3.2 below.
9.3.2 If no mutual agreement occurs between the Owner and the contractor as contemplated in Subparagraph 9.3.1 above, the change in the Contract Price, if any, shall then be determined by the Owner on the basis of the reasonable expenditures or savings of those performing, deleting or revising the work attributable to the change, including, in the case of an increase or decrease in the Contract Price, a reasonable allowance for direct job site overhead and profit. In such case, the Contractor shall present, in such form and with such content as the Owner requires, an itemized accounting of such expenditures or savings, plus appropriate supporting data for inclusion in a Change Order.
9.3.3 If unit prices are provided in the Contract, and if the quantities contemplated are so changed in a proposed Change Order that application of such unit prices to the quantities of Work proposed will cause substantial inequity to the Owner or to the Contractor, the applicable unit prices shall be equitably adjusted.
Changes in the Contract Price. Any increase or decrease in the Contract Price attributable to a Contract Amendment performed by the Contractor or any of its subcontractors shall be governed by the provisions of Section 90-05 of the FAA’s General Provisions.
Changes in the Contract Price. 10.3.1 Any change in the GMP resulting from a Change Order shall be determined as follows: (a) by mutual agreement between the City and the Construction Manager as evidenced by (1) the change in the GMP being set forth in the Change Order, (2) such change in the GMP, together with any conditions or requirements related thereto, being initialed by both parties, and (3) the Construction Manager's execution of the Change Order, or (b) if no mutual agreement occurs between the City and the Construction Manager, then, as provided in Subparagraph 10.3.2 below.
10.3.2 If no mutual agreement occurs between the City and the Construction Manager as contemplated in Subparagraph 10.3.1 above, the change in the GMP, if any, shall then be determined by the Project Architect on the basis of the reasonable expenditures or savings of those performing, deleting or revising the Work attributable to the change, including, in the case of an increase or decrease in the GMP, a reasonable allowance for direct job site overhead and profit. In such case, the Construction Manager shall present, in such form and with such content as the City or the Project Architect require, an itemized accounting of such expenditures or savings, plus appropriate supporting data for inclusion in a Change Order.
10.3.3 If unit prices are provided in the Contract, and if the quantities contemplated are so changed in a proposed Change Order that application of such unit prices to the quantities of Work proposed will cause substantial inequity to the City or to the Construction Manager, the applicable unit prices shall be equitably adjusted.
Changes in the Contract Price. 1. The Contract Price constitutes the total compensation (subject to written authorized adjustments) payable to CONTRACTOR for performing the Work. All duties, responsibilities and obligations assigned to or undertaken by CONTRACTOR shall be at CONTRACTOR’s expense without change in the Contract Price. DRAFT
2. The Contract Price may only be changed by a Change Order or by a Written Amendment. Any claim for an increase or decrease in the Contract Price shall be based on written notice delivered by the party making the claim to the other party and to PROJECT MANAGER promptly (but in no event later than thirty days) after the occurrence of the event giving rise to the claim and stating the general nature of the claim. Notice of the amount of the claim with supporting data shall be delivered within sixty days after such occurrence (unless PROJECT MANAGER allows an additional period of time to ascertain more accurate data in support of the claim) and shall be accompanied by claimant's written statement that the amount claimed covers all known amounts (direct, indirect and consequential) to which the claimant is entitled as a result of the occurrence of said event. All claims for adjustment in the Contract Price shall be determined by PROJECT MANAGER
Changes in the Contract Price. A. The Owner reserves the right to make such additions, deletions, or changes to the Work as may be necessary in its sole and absolute discretion to complete the Work. If the CMR believes that any particular Work is not within the scope of the Project or is a material change or otherwise will call for more compensation to the CMR, the CMR must immediately Notify the Project Manager after the change or event occurs and within ten (10) calendar days thereafter must provide written Notice to the Project Manager. The CMR’s Notice must provide to the Project Manager the amount of additional compensation claimed, together with the basis therefore and supportive documentation for the amount. The CMR will not be compensated for performing any work unless a proposal complying with this paragraph has been submitted in the time specified above and a written amendment has been signed by APS and the CMR and an APS purchase order is issued covering the cost of the services to be provided under the amendment.
B. If the parties agree that Owner directed work is a change to the Scope of Services for which CMR is entitled to an increase, or subject to a decrease, in the Contract Price, an Amendment to the Contract shall be executed by both parties setting forth the Modification to the Scope of Services and any Modification to the Contract Price. The adjustment in the Contract Price, if any, set forth in the Amendment shall constitute full and mutual accord and satisfaction for all costs related to such change.
C. No payment shall be made to CMR for any disputed work for which Owner’s final determination is that CMR is not entitled to receive any increase in the Contract Price for such Work. Payment for Work not in dispute shall continue to be made to CMR in accordance with the Contract Documents.
Changes in the Contract Price. 10.3.1 Any change in the Contract Price resulting from a Change Order / Change Notice shall be determined as follows: (a) by mutual agreement between the City and the Contractor as evidenced by (1) the change in the Contract Price being set forth in the Change Order, (2) such change in the Contract Price, together with any conditions or requirements related thereto, being initialed by both parties and (3) the Contractor's execution of the Change Order, or (b) if no mutual agreement occurs between the City and the Contractor, then, as provided in Subparagraph 10.3.2 below.
10.3.2 If no mutual agreement occurs between the City and the Contractor as contemplated in Subparagraph 10.3.1 above, the change in the Contract Price, if any, shall then be determined by the Assigned Representative(s) / Contract Administrator(s) on the basis of the reasonable expenditures or savings of those performing, deleting, or revising the Work and / or Service(s) and / or Deliverables attributable to the change, including, in the case of an increase or decrease in the Contract Price, a reasonable allowance for Contractor overhead and profit. In such case, the Contractor shall present, in such form and with such content as the City and / or the Assigned Representative(s) / Contract Administrator(s) requires, an itemized accounting of such expenditures or savings, plus appropriate supporting data for inclusion in a Change Order / Change Notice. Reasonable expenditures or savings shall be limited to the following: reasonable costs of materials, supplies, or equipment including delivery costs; reasonable costs of labor, including social security, unemployment insurance, and fringe benefits as required by agreement and / or custom, and workers' compensation insurance; reasonable rental costs of machinery and equipment exclusive of hand tools whether rented from the Contractor or others; reasonable costs of premiums for all bonds and insurance, permit fees, and sales, use or other taxes related to the Work and / or Service(s) and / or Deliverables. In the event the Contractor provides the Work and / or Service(s) and / or Deliverables required by Change Order / Change Notice with its own forces, and not the forces of a subcontractor, the overhead and profit due the Contractor for such work / service(s) / deliverable(s) shall be no more than ten percent (10%). In the event the Change Order / Change Notice Work and / or Service(s) and / or Deliverables is provided by one or more Subcontr...
Changes in the Contract Price. If the final quantity of the work done differs from the quantity in the ▇▇▇▇ of Quantities for the particular item by more than 25 percent, provided the change exceeds 1 percent of the Initial Contract Price, the Project Manager shall adjust the rate to allow for the change.