Common use of Price and Schedule Adjustments Clause in Contracts

Price and Schedule Adjustments. Unless Owner and Contractor agree in writing, all monetary adjustments included in Change Orders and Construction Change Directives, whether cost or credit to Owner, shall be calculated using the terms and figures of Exhibit S and other unit prices set forth in the Contract Documents. However, if quantities of Materials and labor originally contemplated in a unit price significantly differ from those in a Change Order such that a unit price will cause substantial inequity to Owner or Contractor, that unit price shall be equitably adjusted. When submitting a request for, or responding to, a Change Order, Contractor shall furnish Owner with detailed estimates of proposed adjustment to the Contract Time, changes to the schedule of performance of the Work or the Project, and the Contract Sum or Contractor’s compensation, as the case may be. As applicable, each approved Change Order shall incorporate an accurate revised Schedule of Values and an accurate revised Construction Schedule.

Price and Schedule Adjustments. Unless Owner and Contractor agree in writing, all monetary adjustments included in Change Orders and Construction Change Directives, whether cost or credit to Owner, shall be calculated using the terms and figures of Exhibit S Q and other unit prices set forth in the Contract Documents. However, if quantities of Materials and labor originally contemplated in a unit price significantly differ from those in a Change Order such that a unit price will cause substantial inequity to Owner or Contractor, that unit price shall be equitably adjusted. When submitting a request for, or responding to, a Change Order, Contractor shall furnish Owner with detailed estimates of proposed adjustment to the Contract Time, changes to the schedule of performance of the Work or the Project, and the Contract Sum or Contractor’s compensation, as the case may be. As applicable, each approved Change Order shall incorporate an accurate revised Schedule of Values and an accurate revised Construction Schedule.