Common use of Definition of Value Engineering Change Proposal Clause in Contracts

Definition of Value Engineering Change Proposal. A VECP is a proposal developed and documented by the DB Contractor requesting a change in the requirements of the Contract Documents that must decrease the Contract Price and maintain or improve the finished product’s required function, such as service life, reliability, economy of operation, ease of maintenance, necessary standardized features, or appearance, and must not require an extension of the Contract Completion Deadlines.

Definition of Value Engineering Change Proposal. ‌ A VECP is a proposal developed and documented by the DB Contractor requesting a change in the requirements of the Contract Documents that must decrease the Contract Price and maintain or improve the finished product’s required function, such as service life, reliability, economy of operation, ease of maintenance, necessary standardized features, or appearance, and must not require an extension of the Contract Completion DeadlinesDates.