Contract Price Measurement and Payment Clause Samples

Contract Price Measurement and Payment. 12.1 Form of Contract Price 1. Unit price contract. Risk range included in the comprehensive unit price: /. Calculation method of risk cost: /. Adjustment method of contract price beyond the risk range: Compared with the average value of published information price in the urban area during the construction duration of steel bar and cement materials, if the fluctuation range is within ±5% (including ±5%), the unit price will not be adjusted, and the risks and benefits will be borne by the Contractor; if the fluctuation range is beyond ±5% (excluding ±5%), the part exceeding ±5% (excluding ±5%) shall be adjusted (the price difference of materials adjusted shall not take into account any other costs except for taxes), and shall be examined and paid in a lump sum when the project is settled. 2. Lump sum contract. Risk range included in the lump sum price: /. Calculation method of risk cost: /. Adjustment method of contract price beyond the risk range: /. 3. Other price methods: 12.2 Advance Payment 12.2.1 Payment of advance payment Payment proportion or amount of advance payment: Within 28 days after the contract is formally signed, 40% of the contract price for safe and civilized construction shall be paid to the Contractor in advance for the project. Payment term of advance payment: Within 28 days after the contract is signed. 12.2.2 Guarantee of advance payment The time limit for the Contractor to submit guarantee of advance payment: _/. The form of guarantee of advance payment:_/. 12.3 Measurement 12.3.1 Principle of measurement Quantity calculation rules: The actual completed quantity of work shall be calculated based on the relevant rules for quantity calculation according to the construction drawings, design change notice and engineering visa, etc. 12.3.2 Measurement period Provisions on the measurement period: /. 12.3.3 Measurement of unit price contract Provisions on the measurement of unit price contract: /. 12.3.4 Measurement of lump sum contract Provisions on the measurement of lump sum contract: /. 12.3.5 If the lump sum contract uses the payment breakdown table to measure payment, whether the provisions in 12.3.4 [Measurement of lump sum contract] are applicable for measurement: /. 12.3.6 Measurement of other forms of price contracts Measurement methods and procedures for other forms of price contracts: /. 12.4 Progress Payment of Project