Common use of Truth-In-Negotiation Clause in Contracts

Truth-In-Negotiation. The Construction Manager certifies that the wage rates and other factual unit costs supporting the compensation are accurate, complete and current at the time of execution of each Project of which this certificate is a part. The original price and any additions thereto shall be adjusted to exclude any sums by which the Owner determines the Project amount was increased due to inaccurate, incomplete or non-current wage rates, labor burden rates and other factual unit costs (including wage rates and labor burden rates that include amounts that are not considered reimbursable under the terms of the Agreement) and that such original Project adjustments shall be made within one year following the end of the Agreement.

Truth-In-Negotiation. The Construction Manager Design Builder certifies that the wage rates and other factual unit costs supporting the compensation are accurate, complete and current at the time of execution of each Project of which this certificate is a part. The original price and any additions thereto shall be adjusted to exclude any sums by which the Owner determines the Project amount was increased due to inaccurate, incomplete or non-current wage rates, labor burden rates and other factual unit costs (including wage rates and labor burden rates that include amounts that are not considered reimbursable under the terms of the Agreement) and that such original Project adjustments shall be made within one year following the end of the Agreement.