Unit Price Contracts. 1. Payment will be made for the actual quantity of Work completed during the payment period and for materials and equipment stored during the payment period per the Contract Documents.
Unit Price Contracts. The following provision on quantity overruns will be included in all future unit price contracts under Paragraph (B) Variations from Engineer's Estimate (or equivalent provision): "If during the progress of the work, the actual quantity of items required to complete the work of any unit item approaches the estimated quantity, and due to errors, site conditions, changes in design or any other reason, it appears that the actual quantity necessary to complete the work will exceed the estimated quantity by 25 percent, the Contractor shall immediately notify the Engineer of such anticipated overruns. The Contractor shall not be compensated for work performed in excess of one hundred twenty- five (125) percent of the estimated quantities in the bid schedule without written authorization from the Engineer. The Contractor will be paid at the unit price bid for quantities up to one hundred twenty-five (125) percent of the estimated quantities listed in the bid schedule. If quantities on any item exceed one hundred twenty-five (125) percent of the estimate, the City reserves the right and the Contractor agrees to renegotiate the unit price bid to a new unit price for such quantities. If the City and Contractor cannot agree to a new price then the City, if it requires additional units of the item, shall order the Contractor and the Contractor agrees to perform the additional work on a time and material basis for the actual and reasonable cost as determined under Article 26 but in no event at a cost exceeding the bid price.
Unit Price Contracts. A. Comparison of Bids – Bids on Unit Price Contracts will be compared on the basis of total estimated price, arrived at by taking the sum of the estimated quantities of such items multiplied by the corresponding unit prices, and including any lump sum bids on individual items, in accordance with the Engineer’s Estimate of quantities of such items multiplied by the corresponding units prices, and including any lump sum bids on individual items, in accordance with the Engineer’s Estimate of Quantities set forth in the Bid Form.
Unit Price Contracts
