Common use of Modification of the Contract Clause in Contracts

Modification of the Contract. A. A contract awarded by the Institution may include provisions for modification of the contract during performance, but no fixed-price contract may be increased by more than 25% of the amount of the contract or $50,000, whichever is greater, without the advance written approval of the Institution’s president or his designee. In no event may the amount of any contract, without adequate consideration, be increased for any purpose, including, but not limited to, relief of an offeror from the consequences of an error in its bid or offer. B. The Institution may extend the term of an existing contract for services to allow completion of any work undertaken but not completed during the original term of the contract. C. Nothing in this section shall prevent the Institution from placing greater restrictions on contract modifications.

Modification of the Contract. A. A contract awarded by the Institution may include provisions for modification of the contract during performance, but no fixed-price contract may be increased by more than 25% 25 percent of the amount of the contract or $50,000, whichever is greater, without the advance written approval of the Institution’s president President of the Institution or his designee. In no event may the amount of any contract, without adequate consideration, be increased for any purpose, including, but not limited to, relief of an offeror from the consequences of an error in its bid or offer. B. The Institution may extend the term of an existing contract for services to allow completion of any work undertaken but not completed during the original term of the contract. C. Nothing in this section shall prevent the Institution from placing greater restrictions on contract modifications.

Modification of the Contract. A. A contract awarded by the Institution may include provisions for modification of the contract during performance, but no fixed-price contract may be increased by more than 25% 25 percent of the amount of the contract or $50,000, whichever is greater, without the advance written approval of the Institution’s president President of the Institution or his designee. In no event may the amount of any contract, without adequate consideration, be increased for any purpose, including, but not limited to, relief of an offeror from the consequences of an error in its bid or offer. B. The Institution may extend the term of an existing contract for services to allow completion of any work undertaken but not completed during the original term of the contract. C. Nothing in this section shall prevent the Institution from placing greater restrictions on contract modifications.

Modification of the Contract. A. A contract awarded by the Institution may include provisions for modification of the contract during performance, but no fixed-price contract may be increased by more than 25% 25 percent of the amount of the contract or $50,000, whichever is greater, without the advance written approval of the Institution’s 's president or his designee. In no event may the amount of any contract, without adequate consideration, be increased for any purpose, including, but not limited to, relief of an offeror from the consequences of an error in its bid or offer. B. The Institution may extend the term of an existing contract for services to allow completion of any work undertaken but not completed during the original term of the contract. C. Nothing in this section shall prevent the Institution from placing greater restrictions on contract modifications.

Modification of the Contract. A. A contract awarded by the Institution may include provisions for modification of the contract during performance, but no fixed-price contract may be increased by more than 25% twenty-five percent of the amount of the contract or $50,000, whichever is greater, without the advance written approval of the Institution’s president or his designee. In no event may the amount of any contract, without adequate consideration, be increased for any purpose, including, but not limited to, relief of an offeror from the consequences of an error in its bid or offer. B. The Institution may extend the term of an existing contract for services to allow completion of any work undertaken but not completed during the original term of the contract. C. Nothing in this section shall prevent the Institution from placing greater restrictions on contract modifications.