Common use of VALUE OF CHANGE ORDER WORK Clause in Contracts

VALUE OF CHANGE ORDER WORK. The value of any Work covered by a Change Proposal Request or of any claim for an increase or decrease in the Contract Price shall be determined in one of the following ways:  Where the Work involved is covered by unit prices contained in the Contract, by application of unit prices to the quantities of items involved.  By mutual acceptance of a lump sum which Design-Build Firm and Project Manager acknowledge contains a component for overhead and profit.  On the basis of the "cost of Work," determined as provided in this, plus a Design-Build Firm‟s fee for overhead and profit which is determined as provided in this Article.

VALUE OF CHANGE ORDER WORK. The value of any Work covered by a Change Proposal Request or of any claim for an increase or decrease in the Contract Price shall be determined in one of the following ways:  • Where the Work involved is covered by unit prices contained in the Contract, by application of unit prices to the quantities of items involved.  • By mutual acceptance of a lump sum which Design-Build Firm and Project Manager acknowledge contains a component for overhead and profit.  • On the basis of the "cost of Work," determined as provided in this, plus a Design-Build Firm‟s Firm’s fee for overhead and profit which is determined as provided in this Article.

VALUE OF CHANGE ORDER WORK. The value of any Work covered by a Change Proposal Request or of any claim for an increase or decrease in the Contract Price shall be determined in one of the following ways:  • Where the Work involved is covered by unit prices contained in the Contract, by application of unit prices to the quantities of items involved.  • By mutual acceptance of a lump sum which Design-Build Firm Contractor and Project Manager acknowledge contains a component for overhead and profit.  • On the basis of the "cost of Work," determined as provided in this, plus a Design-Build Firm‟s Contractor’s fee for overhead and profit which is determined as provided in this Article.

VALUE OF CHANGE ORDER WORK. The value of any Work covered by a Change Proposal Request or of any claim for an increase or decrease in the Contract Price shall be determined in one of the following ways:  Where the Work involved is covered by unit prices contained in the Contract, by application of unit prices to the quantities of items involved.  By mutual acceptance of a lump sum which Design-Build Firm and Project Manager acknowledge contains a component for overhead and profit.  On the basis of the "cost of Work," determined as provided in this, plus a Design-Build Firm‟s Firm’s fee for overhead and profit which is determined as provided in this Article.