CHANGES REQUIRING A DECREASE IN AGREEMENT PRICE Sample Clauses

CHANGES REQUIRING A DECREASE IN AGREEMENT PRICE. If any Change in the Work will result in a decrease in the AGREEMENT Price, the Owner may request a quotation by the Contractor of the amount of such decrease for use in preparing a Change Order. The Contractor's quotation shall be based on unit rates in Contractor's Schedule of Values and shall be forwarded to the Owner within ten (10) days after the date of the Owner's request or such longer period of time established by the Owner therein and, if acceptable to the Owner, shall be incorporated in the Change Order. If not acceptable, the parties shall make every reasonable effort to agree as to the amount of such decrease, which may be based on a lump sum properly itemized, on unit prices stated in the AGREEMENT and/or on such other basis as the parties may mutually determine. If the parties are unable to so agree, the amount of such decrease shall be the total of the estimated reduction in actual cost of the Work, as determined by the Owner's Representative in its reasonable judgment. If the Contractor fails to render any proposal within the time required herein, the Owner may issue a unilateral deductive Change Order giving the Owner's reasonable estimate of the deductive Change, which shall become automatically binding upon the Contractor.
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Related to CHANGES REQUIRING A DECREASE IN AGREEMENT PRICE

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