CHANGE IN THE CONTRACT SUM Sample Clauses

CHANGE IN THE CONTRACT SUM. A. Change Order Pricing - Fixed Price: When the fixed price or time and materials method is used to determine the value of any Work covered by a Change Order, or of a request for an equitable adjustment in the Contract Sum, the following procedures shall apply: 1. Contractor's Change Order proposal, or request for adjustment in the Contract Sum, shall be accompanied by a complete itemization of the costs, including labor, material, subcontractor costs, and overhead and profit. The costs shall be itemized in the manner set forth below, and shall be submitted on breakdown sheets with documentation in a form approved by Owner. 2. Any request for adjustment of Contract Sum shall include only the following items: a. Craft labor costs for Contractors and Subcontractors. 1) Basic wages and benefits: Hourly rates and benefits according to applicable prevailing wages. 2) Direct supervision shall not to exceed 15% of the cost of direct labor. No supervision markup shall be allowed for a working supervisor's hours.

CHANGE IN THE CONTRACT SUM. A. General Application

CHANGE IN THE CONTRACT SUM. A. General Application 1. The Contract Sum shall only be changed by a Change Order or CCD. The CM/GC shall include any request for a change in the Contract Sum in its Change Order proposal. 2. If the cost of the CM/GC’s performance is changed due to the fault or negligence of Owner, or anyone for whose acts Owner is responsible, the CM/GC shall be entitled to make a request for an equitable adjustment in the Contract Sum in accordance with the following procedure. No change in the Contract Sum shall be allowed to the extent: the CM/GC’s changed cost of performance is due to the fault or negligence of the CM/GC, or anyone for whose acts the CM/GC is responsible; the change is concurrently caused by the CM/GC and Owner; or the change is caused by an act of Force Majeure as defined in Section 3.06. a. A request for an equitable adjustment in the Contract Sum shall be based on written notice delivered to Owner within 14 days of the occurrence of the event giving rise to the request. For purposes of this part, “occurrence” means when the CM/GC knew, or in its diligent prosecution of the Work should have known, of the event giving rise to the request. If the CM/GC believes it is entitled to an adjustment in the Contract Sum, the CM/GC shall promptly notify Owner and begin to keep and maintain complete, accurate, and specific daily records. The CM/GC shall give Owner access to any such records and, if requested shall promptly furnish copies of such records to Owner. b. The CM/GC shall not be entitled to any adjustment in the Contract Sum for any occurrence of events or costs that occurred more than 14 days before the CM/GC’s written notice to Owner. The written notice shall set forth, at a minimum, a description of: the event giving rise to the request for an equitable adjustment in the Contract Sum; the nature of the impacts to the CM/GC and its Subcontractors of any tier, if any; and to the extent possible the amount of the adjustment in Contract Sum requested. Failure to properly give such written notice shall constitute a waiver of the CM/GC’s right to an equitable adjustment. c. Within 30 days of the occurrence of the event giving rise to the request, unless Owner agrees in writing to allow an additional period of time to ascertain more accurate data, the CM/GC shall supplement the written notice provided in accordance with subparagraph above with additional supporting data. Such additional data shall include, at a minimum: the amount of compensation request...