Common use of Contract Price Adjustments Clause in Contracts

Contract Price Adjustments. 14.2.1 The increase or decrease in Contract Price resulting from a change in the Scope of Work shall be mutually accepted Reimbursable Costs based upon Vendor’s then applicable standard labor rates, or a lump sum, properly itemized and supported by sufficient substantiating data to permit evaluation by Owner. 14.2.2 If Owner and Vendor disagree upon whether Vendor is entitled to be paid for any services required by Owner, or if there are any other disagreements over the Scope of Work or proposed changes to the Scope of Work, Owner and Vendor shall resolve the disagreement pursuant to Article 20 hereof. As part of the negotiation process, Vendor shall furnish Owner with a good faith estimate of the costs to perform the disputed services in accordance with Owner’s interpretations. If the Parties are unable to agree and Owner expects Vendor to perform the services in accordance with Owner’s interpretations, Vendor shall proceed to perform the disputed services, conditioned upon Owner issuing a written order to Vendor (i) directing Vendor to proceed, and (ii) specifying Owner’s interpretation of the services that are to be performed. If this occurs, Vendor shall be entitled to submit in its Applications for Payment an amount equal to [*] of its reasonable time estimated to perform the services, and Owner agrees to pay such amounts, with the express understanding that (x) such payment by Owner does not prejudice Owner’s right to argue that it has no responsibility to pay for such services, and (y) receipt of such payment by Vendor does not prejudice Vendor’s right to seek full payment of the disputed services if Owner’s order is deemed to be a change to the Scope of Work.

Contract Price Adjustments. 14.2.1 The increase or decrease in Contract Price resulting from a change in the Scope of Work shall be mutually accepted Reimbursable Costs based upon Vendor’s then applicable standard labor rates, or a lump sum, properly itemized and supported by sufficient substantiating data to permit evaluation by OwnerBechtel. 14.2.2 If Owner Bechtel and Vendor disagree upon whether Vendor is entitled to be paid for any services required by OwnerBechtel from a Change Event, or if there are any other disagreements over the Scope of Work or proposed changes to the Scope of WorkWork from a Change Event, Owner Bechtel and Vendor shall resolve the disagreement pursuant to Article 20 hereof. As part of the negotiation process, Vendor shall furnish Owner Bechtel with a good faith estimate of the costs to perform the disputed services in accordance with Owner’s Xxxxxxx’x interpretations. If the Parties are unable to agree and Owner Bechtel expects Vendor to perform the services in accordance with Owner’s Xxxxxxx’x interpretations, Vendor shall proceed to perform the disputed servicesservices unless Vendor refuses to proceed for safety reasons, and further conditioned upon Owner Bechtel issuing a written order to Vendor (i) directing Vendor to proceed, and (ii) specifying Owner’s Xxxxxxx’x interpretation of the services that are to be performed. If this occurs, Vendor shall be entitled to submit in its Applications for Payment an amount equal to [*] of its reasonable time estimated to perform the services], and Owner Bechtel agrees to pay such amounts, with the express understanding that (x) such payment by Owner Bechtel does not prejudice Owner’s Xxxxxxx’x right to argue that it has no responsibility to pay for such services, and (y) receipt of such payment by Vendor does not prejudice Vendor’s right to seek full payment of the disputed services if Owner’s Xxxxxxx’x order is deemed to be a change to the Scope of Work.