Common use of Market Changes Clause in Contracts

Market Changes. It is understood that the DESIGN/BUILD TEAM assumes the risk and cost of market changes with respect to the DESIGN/BUILD TEAM’s scope of work. In the event any supplier under a Purchase Agreement with the State of Utah fails to perform according to the terms of his agreement, the DESIGN/BUILD TEAM will be entitled to an equitable adjustment of the contract price and time. The DESIGN/BUILD TEAM will use its best efforts in managing those suppliers to maintain the project schedule.