Increased Cost-Plus Fee Method Clause Samples
Increased Cost-Plus Fee Method. In such cases, the DB Contractor shall keep and present, in such form as the Authority may prescribe, an itemized accounting of all costs of the Change in the Work or Excusable Event, as
Increased Cost-Plus Fee Method. If so agreed by the parties, or if the DB Contractor does not respond promptly or disagrees with the method for adjustment in the GMP (as in the case of disputed payment under a Construction Change Directive as described in Subsection 13.7.6 (Disputed Directives)), the method and the adjustment shall be determined as follows:
13.4.3.1 If the Cost of the Work is increased by a Change in the Work or an Excusable Event, the applicable GMP(s) shall be increased (without duplication) by an amount equal to the sum of the following:
(a) The actual, documented, and reasonable Cost of the Work incurred by the DB Contractor in performing the additional Work, excluding any DB Contractor or Subcontractor markups for overhead and profit (the “Increased Cost”); plus
(b) The percentage markup for overhead and profit in accordance with Section 13.5 (Markups for Additional Work).
13.4.3.2 If the Cost of the Work is decreased by any such change, the applicable GMP(s) shall be decreased (without duplication) so as to reflect the Cost of the Work that would have been incurred by the DB Contractor (or by any Subcontractor) in the absence of such change, including percentage markups calculated as described in Section 13.5 (Markups for Additional Work).