Common use of Price Change Clause in Contracts

Price Change. An increase or decrease in Contract Price, if any, resulting from a Scope Change requested by Owner or made pursuant to this Article 12 shall be determined, upon the mutual agreement of the Parties, as follows: (a) By lump sum payment, in an amount proposed by Contractor (properly itemized and supported by sufficient substantiating data to permit evaluation) and accepted by Owner; or (b) By unit pricing; or (c) By cost and percentage or by cost and fixed fee; or (d) If none of the methods set forth in Section 12.8(a), 12.8(b) or 12.8(c) hereof are agreed upon after good faith negotiation by the Parties, Contractor shall provide Owner with such purchase orders, invoices, subcontractor quotes and other documents and records as may enable Owner to verify, to its reasonable satisfaction, the costs or savings reasonably incurred by Contractor in effecting such Scope Change. All equipment, materials, labor, equipment rental and other items required as a result of such Scope Change shall be purchased by Contractor at competitive market prices. Owner shall, upon verifying Contractor's costs or savings associated with such Scope Change, adjust the Contract Price by the amount thereof and appropriate adjustments shall be made to the corresponding Scheduled Payments.

Price Change. An increase or decrease in Contract Price, if any, resulting from a Scope Change requested by Owner or made pursuant to this Article 12 shall be determined, upon the mutual agreement of the Parties, as follows: (a) By lump sum payment, in an amount proposed by Contractor (properly itemized and supported by sufficient substantiating data to permit evaluation) and accepted by Owner; or (b) By unit pricing; or (c) By cost and percentage or by cost and fixed fee; or (d) If none of the methods set forth in Section 12.8(a), 12.8(b) or 12.8(c) hereof are is agreed upon after good faith negotiation by the Parties, Contractor shall provide Owner with such purchase orders, invoices, subcontractor quotes and other documents and records as may enable Owner to verify, to its reasonable satisfaction, the costs or savings reasonably incurred by Contractor in effecting such Scope Change. All equipment, materials, labor, equipment rental and other items required as a result of such Scope Change shall be purchased by Contractor at competitive market prices. Owner shall, upon verifying Contractor's costs or savings associated with such Scope Change, adjust the Contract Price by the amount thereof plus [*] and appropriate adjustments shall be made to the corresponding Scheduled Payments.