Changes in Contract Price. In cases where the cost of the awarded Contract is affected by any applicable new laws, ordinances, regulations, or other acts of the Government of the Philippines, promulgated after the date of bid opening, a Contract price adjustment shall be made or appropriate relief shall be applied on a no loss-no gain basis.3 Any request for price escalation under extraordinary circumstances shall be submitted by the concerned entity to the National Economic and Development Authority (NEDA) with the endorsement of the PROCURING ENTITY. The burden of proving the occurrence of extraordinary circumstances that will allow for price escalation shall rest with the party requesting for such escalation. NEDA shall only respond to such requests after receiving the proof and the necessary documentation.4 For purposes of this Section, “extraordinary circumstances” shall refer to events that may be determined by the NEDA in accordance with the Civil Code of the Philippines, and upon the recommendation of the PROCURING ENTITY concerned.5
Changes in Contract Price. This is a FFP Agreement. Except as otherwise expressly provided in this Agreement, the Contract Price is not subject to any escalation or to any adjustment or revision.
Changes in Contract Price. This is a firm-fixed price Contract. Except as otherwise expressly provided in this Contract, the Contract Price is not subject to any escalation or to any adjustment or revision.
Changes in Contract Price. 31.1 The CONTRACT PRICE may be changed only by a CHANGE ORDER. The value of any WORK covered by a CHANGE ORDER or of any claim for increase or decrease in the CONTRACT PRICE shall be determined by one or more of the following methods in the order of precedence listed below:
a. Unit prices previously approved.
b. An agreed lump sum
c. The actual cost for labor, direct overhead, materials, supplies, equipment, and other services necessary to complete the work. In addition there shall be added an amount to be agreed upon but not to exceed fifteen (15) percent of the actual cost of the WORK to cover the cost of general overhead and profit.
Changes in Contract Price. A PCO shall include breakdowns pursuant to the revisions herein to validate any change in Contract Price.
Changes in Contract Price. 5.01 The amount of any increases or decreases in the Contract Price which results from a Change Order shall be set forth in the applicable Change Order subject to the following:
1. In the case of net additions in the Work, the amount of any increase in the Contract Price shall be determined in accordance with paragraph 11.01 of the Standard General Conditions.
2. In the case of net deletions in the Work, the amount of any such decrease shall be determined in accordance with paragraph 11.01 of the Standard General Conditions, and any Contract Price shall be reduced by mutual agreement.
Changes in Contract Price. This is a FFP Agreement. Except as otherwise expressly provided in this Agreement, the Contract Price is not subject to any escalation or to any adjustment or revision. DigitalGlobe Proprietary and Confidential Use or disclosure of data is subject to the restriction on the title page of this document 3.3. Taxes and Duties
(a) Taxes: All taxes and similar assessments, levies, and government-imposed obligations arising with respect to any Contract Deliverables and/or support services (except for Contractor’s income or franchise taxes) shall be the obligation of and be paid by Customer whether such taxes become due upon any payments under the Agreement or upon a future tax assessment as a result of an audit, or other event or notification by the relevant tax authority. For this purpose and unless otherwise indicated below, taxes shall mean and include any and all taxes imposed by the U.S. and its states and localities, sales and use, value added (including reverse charge value added tax), turnover, import duty, import Value Added Tax (“VAT”), property, excise, privilege or other fees, duties or taxes assessed by the sale, ownership, or use of the Contract Deliverable(s), support services, and any goods provided under this Agreement.
Changes in Contract Price. 14.1 Owner, without invalidating Contract, and as provided by law, may order extra work or make changes by altering, adding to, or deducting from work, Contract sum being adjusted accordingly. All such work shall be executed under conditions of original Contract except that any claim for extension of time caused thereby shall be adjusted at the time of ordering such change. All changes are subject to approval by the Owner and the Project Engineer. In giving instructions, Engineer shall have authority to make minor changes in work, not involving change in cost, and not inconsistent with purposes of building. Otherwise, except in an emergency endangering life or property, no extra work or change shall be made unless in pursuance of a written order from Owner, and no claim for addition to Contract sum shall be valid unless so ordered. Value of such extra work, change, or deductions shall be determined at the discretion of Owner, and the method of providing additional cost for review shall be determined by the Owner based on the work involved and the need of the Owner and/or the Engineer to determine the costs are in order with prevailing construction standards in one or more of the following methods in the order of precedence listed below, or as designated above:
(a) Unit prices previously approved, contained in Contractor's original bid and incorporated in the Contract Documents or fixed by subsequent agreement between Owner and Contractor. (Unit prices previously approved shall be used in all cases for similar units unless mutually agreed that they are for some reason not applicable.)
(b) An agreed upon lump sum.
(c) A time and expense basis, involving the actual necessary expenses, and other services necessary to complete the Work. In addition, there shall be added an amount to be agreed upon but not to exceed fifteen percent (15% see 14.1(d) below) of the actual necessary expense to cover the cost of general overhead, general superintendence, other expenses, and profit. In the event that items (a) and (b) above are not applicable, then this latter method (c) shall be used. The following form shall be followed as applicable for additions and deductions to Contract:
(1) Material (attach itemized quantity and unit cost plus sales tax)
(2) Labor (attach itemized hours and rates)
(3) Subtotal
(4) Subcontractor's overhead and profit not to exceed 10% of items 1 and 2. Overhead and profit shall include the following: Public Liability and Property Damage Insuranc...
Changes in Contract Price. The Contract Price constitutes the total compensation payable for performing all duties, responsibilities and obligations assigned to or undertaken by Contractor. The Contract Price may only be changed by a Change Order. Claims for a change in the Contract Price shall be submitted to ITP Project Manager within fifteen
Changes in Contract Price. 14.1 The CONTRACT PRICE may be changed only by a CHANGE ORDER executed by OWNER and CONTRACTOR. The value of any WORK covered by a CHANGE ORDER or of any claim for increase or decrease in the CONTRACT PRICE shall be determined by one (1) or more of the following methods in order of precedence listed below:
(a) Unit prices previously approved.
(b) An agreed lump sum.
(c) The actual cost for labor, direct overhead, materials, supplies, equipment and other services necessary to complete the WORK, computed as follows:
(1) The reasonable cost of labor employed directly on the WORK at prevailing rates of wages.
(2) The cost of Worker's Compensation Insurance, Federal Social Security and STATE Unemployment Compensation on Item (l) at established rates.
(3) The reasonable cost of materials incorporated in the WORK.
(4) The reasonable cost at fair market rental rates for equipment employed directly on the WORK.
(5) Fifteen (15%) percent of Items (1), (2), (3) and (4) for overhead, superintendence and profit. On subcontract WORK, this fifteen (15) percent will be allowed only to the SUBCONTRACTOR.
(6) An additional five (5%) percent of Items (1), (2), (3) and (4) on WORK performed by a SUBCONTRACTOR of the CONTRACTOR. This five (5) percent includes overhead, superintendence, profit and bonds.
14.2 The CONTRACTOR shall, at the request of the ENGINEER, furnish itemized statements and such other documentation requested by ENGINEER substantiating the cost of the Work ordered and give the ENGINEER access to accounts, records, bills, receipts, cancelled checks and vouchers relating thereto. If the CONTRACTOR claims compensation for extra WORK not ordered as aforesaid, or for any damage sustained, it shall, prior to beginning any such WORK or within one week of the commencement of sustaining any such damage, provide to ENGINEER a written statement of the nature of the WORK to be performed or the damage sustained, the nature and cause of such WORK or damage, the estimated costs associated with such WORK or damage and the basis for same, and shall, if such extra WORK is claimed by CONTRACTOR to have been authorized by ENGINEER or OWNER, on or before the 10th day following completion of any such extra WORK, file with the ENGINEER an itemized statement of the details and amount of such work or damage, including provision of all documents evidencing the performance of such WORK and the costs associated with same; and unless such statements shall be made and submitted as so requ...
