Common use of Cost Increases Clause in Contracts

Cost Increases. An invoice that increases the total invoiced project cost above the amount shown in Exhibit “B” shall not be approved until INDOT has issued another purchase order or an advice of change (AC) order to cover the increased cost of relocation. If the invoice causes the total invoiced project cost to exceed the amount shown in Exhibit “B” by more than 10%, the invoice shall not be approved until the Utility submits a revised estimate and justification for the additional cost of relocation. The Utility acknowledges that until the above conditions are met INDOT may return any invoice submitted by the Utility which when totaled with previous invoices paid (or to be paid) by INDOT exceeds the amount shown in Exhibit “B” by more than 10%. INDOT shall make every effort to expedite the payment of any approved cost increase above the amount originally agreed upon.

Cost Increases. An invoice that increases the total invoiced project cost above the amount shown in Exhibit “B” shall not be approved until INDOT has issued another purchase order or an advice of change (AC) order to cover the increased cost of relocation. If the invoice causes the total invoiced project cost to exceed the amount shown in Exhibit “B” by more than 10%, the invoice shall not be approved until the Utility submits a revised estimate and justification for the additional cost of relocation. The Utility acknowledges that until the above conditions are met INDOT may return any invoice submitted by the Utility which when totaled with previous invoices paid (or to be paid) by INDOT exceeds the amount shown in Exhibit “B” by more than 10%. Utility shall have no obligation to perform any relocation or work that is not or will not be fully reimbursed by INDOT. INDOT shall make every effort to expedite the payment of any approved cost increase above the amount originally agreed upon.