Common Contracts
1 similar Fixed Price Variable Scope Contracting contracts
The Missouri Department of Transportation (MoDOT) and the Federal Highway Administration (FHWA) have entered into this SEP-14 agreement to approve the use of Fixed Price Variable Scope Contracting (FPVS) on preventive maintenance seal coat project...Fixed Price Variable Scope Contracting • November 8th, 2022
This contract method allows MoDOT to vary the amount of work to be completed to match the budget programmed for the projects. The work included in the bid proposal is established in priority order to be completed and will exceed the amount of work that is expected to be completed by the budget in order to capitalize on getting better than expected bids. This procurement method will have the contractor bid a unit price for the estimated bid quantities for each item of work in the contract. The estimated quantities included in the contract represent the amount of work than can be completed for the budgeted amount. Once the project has been awarded, the MoDOT construction office would then manage the contract by adjusting the contract quantities to deliver the budgeted amount.
