Common use of Price Reduction for Defective Cost or Pricing Data Clause in Contracts

Price Reduction for Defective Cost or Pricing Data. The original contract price and any additions thereto shall be adjusted to exclude any significant sums where the County determines that the contract price was increased due to inaccurate, incomplete or noncurrent wage rates and/or other factual unit costs. Upon such determination by the County, such price or cost or profit shall be reduced accordingly and this Agreement shall be modified in writing to reflect such reduction. All such price adjustments shall be made within one (1) year following the end of this Agreement.

Appears in 11 contracts

Samples: Professional Services, Professional Services, Professional Services Agreement

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