Common use of Valuation of Variation Clause in Contracts

Valuation of Variation. Subject to clauses 8.4, 10.4 and 12.3, the Contract Price will be adjusted for the value of all Variations carried out by the Contractor by: the proposed adjustment to the Contract Price set out in the Contractor's notice under clause 10.1 (if any) if agreed by the Commonwealth; or if subparagraph (i) does not apply: if there is a Table of Variation Rates and Prices, an amount determined by the Contract Administrator using any rates and prices in the Contract which may be applicable to the Variation; or a reasonable amount to be agreed between the parties or, failing agreement, determined by the Contract Administrator. In either case the value of the Variation must include the reasonable costs which will be incurred by the Contractor as a direct result of the Variation delaying the Contractor.