Common use of Market Values Clause in Contracts

Market Values. Cost for added Work shall be no more than market values prevailing at the time of the change, unless the Contractor can establish to the satisfaction of the University that it investigated all possible means of obtaining Work at prevailing market values and that the excess cost could not be avoided. When a change order deletes Work from the Contract, the computation of the cost thereof shall be the values which prevailed at the time bids for the Work were opened or the Contract Sum/GMP established.

Market Values. Cost for added Work shall be no more than market values prevailing at the time of the change, unless the Contractor can establish to the satisfaction of the University that it investigated all possible means of obtaining Work at prevailing market values and that the excess cost could not be avoided. When a change order deletes Work from the Contract, the computation of the cost thereof shall be the values which prevailed at the time bids for the Work were opened or the Contract Sum/GMP Sum established.

Market Values. Cost for added Work shall be no more than market values prevailing at the time of the change, unless the Contractor Licensee can establish to the satisfaction of the University Trustees that it investigated all possible means of obtaining Work at prevailing market values and that the excess cost could not be avoided. When a change order deletes Work from the Contract, the computation of the cost amount thereof shall be the values which prevailed at the time bids for the Work were opened opened, if the Work is contained in a subcontract agreement or purchase order executed at or near the Contract Sum/GMP establishedtime proposals were opened.