pf_02823 - Laserfiche WebLink

Home

10.2 CHANGE OF CONTRACT PRICE - CONT. ments in the Contract Unit Price shall be determined by the Engineer. Any change in the Contract Price resulting from any such claim shall be incorporated in a Change Order. The value of any work covered by any claim for an increase or de- crease in the Contract Price shall be determined in one of the following ways: A. By application of unit prices to the quantities of the items involved. B. By mutual acceptance of a lump sum. I I ) ~cJ 1 I ,I ] '] J C. By cost and a mutually acceptable fixed amount for overhead and profit. If none of the above methods is agreed upon, the value shall be determined by the Engineer on the basis of costs and a percentage for overhead and profit. Costs shall only include labor (payroll, payroll taxes, fringe benefits, workman's compensation, etc.), materials, equipment, and other incidentals directly related to the work involved. The maximum percentage which shall be allowed for Contractor's combined overhead and profit, shall be as follows: Work done by his own organization, the Contractor may add up to ten percent of his actual net increase in cost, and for work done by Subcontractor may add up to ten percent of his actual net increase in costs for combined overhead and profit and the Contractor may add up to five percent of the Subcontractor's total for his combined overhead" and profit; provided that no overhead or profit shall be allowed on costs incurred in connection with premiums for public liability insurance or other special insurance directly related to such work. In such case and also under paragraph C. the Contractor will submit in form prescribed by the Engineer an itemized cost breakdown together with supporting data. 10.3 CHANGE IN CONTRACT TIME The contract time may be changed only by a change order. If the Contractor is entitled to make a claim for an extension in the contract time based on the contract documents, his claim shall be delivered in writing to the Owner and the Engineer within ten days of the occurrence of the event giving rise to the claim. If the Owner and Contractor cannot agree the claims for adjustment in the contract time shall be determined by the Engineer. The contract time will be extended by the amount equal to time lost due to delays beyond the control of the Contractor if he makes a claim as provided above. ) J . j GC-13