Common use of Changes in Contract Price Clause in Contracts

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. 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. (a) Unit prices previously approved. b. (b) An agreed lump sum c. (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. 31.1 The CONTRACT PRICE contract price may be changed only by a CHANGE ORDERchange order. The value of any WORK work covered by a CHANGE ORDER change order or of any claim for increase or decrease in the CONTRACT PRICE shall contract price will be determined by one or more of the following methods in the order of precedence listed below: a. A. Unit prices previously approved, which are attached hereto and incorporated by this reference. b. B. An agreed lump sum. c. C. The actual cost for of labor, direct overhead, materials, supplies, equipment, equipment and other services necessary to complete the work. In addition there shall will be added an amount to be agreed upon but not to exceed fifteen percent (15%) percent of the actual cost of the WORK work to cover the cost of general overhead and profit.