Price Change definition
Examples of Price Change in a sentence
Upon agreement as to the Lump Sum Price, the change shall be effected by a Lump Sum Price Change Order.
Within 10 days of the execution of the Lump Sum Price Change Order, CM/GC shall present for the approval of the Design Professional and Program Manager and Owner a schedule of values for the periodic payment of the remaining contract balance, which approval shall not be unreasonably withheld.
Within 10 days of the execution of the Lump Sum Price Change Order, Design-Builder shall present for the approval of the Program Manager and Program Manager and Owner a schedule of values for the periodic payment of the remaining contract balance, which approval shall not be unreasonably withheld.
For change order work which increases the contract amount, other than Guarantee Maximum Price Change Orders, overhead and profit costs shall be determined in accordance with the “Changes” section of the Uniform General Conditions.
If the LFC provides a fixed price, it will also specify the applicable Price Change Mechanism.