Common use of THE VALUE OF CHANGED WORK Clause in Contracts

THE VALUE OF CHANGED WORK. 1. The value of any extra Work or changes in the Work shall be determined by agreement in one or more of the following ways: a. By estimate and acceptance of a lump-sum amount; b. By unit prices specified in the Agreement, or subsequently agreed upon, that are extended by specific quantities; c. By actual cost plus a fixed fee in a lump sum amount for profit, overhead and all indirect and off-site home office costs, the latter amount agreed upon in writing prior to starting the extra or changed Work. 2. Where the Contractor and the Principal Representative cannot agree on the value of extra Work, the Principal Representative may order the Contractor to perform the changes in the Work and a Change Order may be unilaterally issued based on an estimate of the change in the Work prepared by the Architect/Engineer. The value of the change in the Work shall be the Principal Representative’s determination of the amount of equitable adjustment attributable to the extra Work or change. The Principal Representative’s determination shall be subject to appeal by the Contractor pursuant to the claims process in Article 36, Claims. 3. Except as otherwise provided in Article 35B, Detailed Breakdown, the Cost Principles of the Colorado Procurement Code or the applicable procurement code for institutions of higher education, shall govern all Contract changes.