Unit Price Change Orders Clause Samples
Unit Price Change Orders. When the actual quantity of a Unit Price item varies from the Bid Form, compensation for the change in quantity will be calculated by multiplying the actual quantity by the Unit Price. This calculation may result in either an additive or deductive Final Change Order pursuant to the Contract Documents. No Mark up for Overhead and Profit. Because the Contract Unit Prices provided in the Bid Schedule include Overhead and Profit as determined by Contractor at the time of Bid submission, no mark up or deduction for Overhead and Profit will be included in Unit Price Change Orders. Bid items included on the Bid Schedule may be deducted from the Work in their entirety without any negotiated extra costs. Contractor acknowledges that unit quantities are estimates and agrees that the estimated unit quantities listed on the Bid Schedule will be adjusted to reflect the actual quantities which may result in an adjustment to the Contract Unit Prices. Such an adjustment will be made by execution of an additive or deductive Change Order. Upon notification, Contractor’s failure to respond within seven (7) calendar days will result in MTS’s issuance of a unit quantity adjustment to the Contract Unit Prices and/or Contract duration in accordance with the Contract Documents.
Unit Price Change Orders. The Change Order Price for all Unit Price Change Orders will be the amount set forth in the Change Order multiplied by the verified quantity provided.
Unit Price Change Orders. Instead of negotiating the price for a Change Order in accordance with Section 3.1 of this Schedule 15, MDOT and Project Company may agree to negotiate unit prices for changed Project Operations. Measurement of unit-priced quantities will be as specified in the Change Order. The unit prices shall be deemed to include all costs for the Change, including labor, equipment, material, overhead, markups and profit, and shall not be subject to change regardless of any change in the estimated quantities. Unit-priced Change Orders shall initially include an estimated increase in the Service Payment or Milestone Payment based on estimated quantities. The final price of Change Order may be lump sum or may be based upon a final determination of the quantities.
Unit Price Change Orders. A. Content of Change Orders will be based on, either:
1. The City’s definition of the scope of the required changes.
2. The Contractor’s proposal for a change, as recommended by City.
3. Measurement of completed work.
B. The amounts of the unit prices to be:
1. Those stated in the Agreement.
2. Those mutually agreed upon between the City and Contractor.