Common use of New Prevailing Wage Rates Applicable Upon Renegotiation Clause in Contracts

New Prevailing Wage Rates Applicable Upon Renegotiation. If the initial contract provides for an extension of the contract at the same negotiated compensation rate originally agreed on, this constitutes a “renewal” that would utilize the same prevailing wage rates (base and fringe benefits) in effect at the time of the initial solicitation. An increased or decreased compensation rate for the contractor during the agreed extension of the contract constitutes a “renegotiation” and the prevailing wage rates in effect at the time of such renegotiation would apply. In addition, the 30-month period restarts. 4) In accordance with Section 9, of the above referenced contract, entitled Defense, Indemnification/Hold Harmless, parties mutually agree to replace the previously agreed upon language with the language as shown below:

New Prevailing Wage Rates Applicable Upon Renegotiation. If the initial contract provides for an extension of the contract at the same negotiated compensation rate originally agreed on, this constitutes a “renewal” that would utilize the same prevailing wage rates (base and fringe benefits) in effect at the time of the initial solicitation. An increased or decreased compensation rate for the contractor during the agreed extension of the contract constitutes a “renegotiation” and the prevailing wage rates in effect at the time of such renegotiation would apply. In addition, the 30-month period restarts. 45) In accordance with Section 910, of the above referenced contract, entitled Defense, Indemnification/Hold Harmless, parties mutually agree to replace the previously agreed upon language with the language as shown below:

New Prevailing Wage Rates Applicable Upon Renegotiation. If the initial contract provides for an extension of the contract at the same negotiated compensation rate originally agreed on, this constitutes a “renewal” that would utilize the same prevailing wage rates (base and fringe benefits) in effect at the time of the initial solicitation. An increased or decreased compensation rate for the contractor during the agreed extension of the contract constitutes a “renegotiation” and the prevailing wage rates in effect at the time of such renegotiation would apply. In addition, the 30-month period restarts. 4) In accordance with Section 910, of the above referenced contract, entitled Defense, Indemnification/Hold Harmless/Indemnification, parties mutually agree to replace the previously agreed upon language with the language as shown below:

New Prevailing Wage Rates Applicable Upon Renegotiation. If the initial contract provides for an extension of the contract at the same negotiated compensation rate originally agreed on, this constitutes a “renewal” that would utilize the same prevailing wage rates (base and fringe benefits) in effect at the time of the initial solicitation. An increased or decreased compensation rate for the contractor during the agreed extension of the contract constitutes a “renegotiation” and the prevailing wage rates in effect at the time of such renegotiation would apply. In addition, the 30-month period restarts. 4) In accordance with Section 9, of the above referenced contract, entitled Defense, Indemnification/Hold Harmless/Indemnification, parties mutually agree to replace the previously agreed upon language with the language as shown below:

New Prevailing Wage Rates Applicable Upon Renegotiation. If the initial contract provides for an extension of the contract at the same negotiated compensation rate originally agreed on, this constitutes a “renewal” that would utilize the same prevailing wage rates (base and fringe benefits) in effect at the time of the initial solicitation. An increased or decreased compensation rate for the contractor during the agreed extension of the contract constitutes a “renegotiation” and the prevailing wage rates in effect at the time of such renegotiation would apply. In addition, the 30-month period restarts. 45) In accordance with Section 910, of the above referenced contract, entitled Defense, Indemnification/Hold Harmless/Indemnification, parties mutually agree to replace the previously agreed upon language with the language thelanguage as shown below: