Common use of Fixed Price Work Clause in Contracts

Fixed Price Work. For changes to fixed price Work, the price for any additional work or changes shall be determined as follows where feasible: 15.2.1 Client shall ask S & B to provide an estimated cost to perform Client’s desired change of scope on a fixed price basis. Client shall pay S & B for preparing all such estimates on a cost reimbursable basis using S & B’s current applicable rates in accordance with Attachment 4 of this Agreement 15.2.2 If the estimated cost for the change is approved by Client, such estimate shall be included in a revision indicating the original value plus the approved change and signed as approved by both parties. S & B shall then perform such change under the terms of this Agreement. 15.2.3 If S & B’s estimated cost is unacceptable to Client, the parties will negotiate and attempt to agree upon a mutually acceptable fixed price which, if agreed to, shall be signed and approved by both Parties and then performed by S & B as a Work revision subject to the terms of this Agreement.