Common use of Valuation and Payment Clause in Contracts

Valuation and Payment. If a Variation proposed by the Provider causes or will cause the Provider‟s costs or those of a Sub-Contractor to decrease the Customer and the Provider shall share in the savings and there shall be an adjustment to the Contract Price to take account of the Customer‟s share of the savings. The value of the Estimate submitted by the Provider in accordance with Schedule 11 (Variation Procedure) shall be calculated in accordance with either: Schedule 2 (Pricing Schedule) where the Variation is of a similar character to the Services currently being performed; or at fair rates and prices where the Variation is not of a similar character to the Services currently being performed, so that the Provider is in no worse or better position.

Valuation and Payment. If a Variation proposed by the Provider causes or will cause the Provider‟s Provider’s costs or those of a Sub-Contractor to decrease the Customer Authority and the Provider shall share in the savings and there shall be an adjustment to the Contract Price to take account of the Customer‟s Authority’s share of the savings. The value of the Estimate submitted by the Provider in accordance with Schedule 11 (Variation Procedure) shall be calculated in accordance with either: Schedule 2 (Pricing Schedule) where the Variation is of a similar character to the Services currently being performed; or at fair rates and prices where the Variation is not of a similar character to the Services currently being performed, so that the Provider is in no worse or better position. Payment of the value of any Variation shall be made through a pro-rata adjustment to the Contract Price over the remainder of the Term.