Basis of Contract Price. The contract price is based on the use of the materials, products and equipment specified in the contract, except for substitutions or "Or-Equal" items proposed by the Contractor which have been specifically approved by the Government at the time of execution of the contract. Any substitution approved by the Government after execution of the contract shall be subject to an appropriate adjustment of the contract price.
Basis of Contract Price. The Contractor acknowledges that unless otherwise expressly stated in the Contract, the Contract Price:
Basis of Contract Price. The consideration was determined as a result of public tender. Other than the Consortium, each of the other 14 tenderers which made a bid was an independent third party. The tender evaluation committee took into account the following factors when arriving at their decision, including but not limited to: (i) the tenderer’s overall construction plans, construction organization measures and quality assurance measures; (ii) the tenderer’s measures to ensure construction progress; (iii) the major construction equipment, raw material and labor arrangements; (iv) the allocation of personnel; and (v) safe and civilized construction and environmental protection measures. According to the assessment made by the tender evaluation committee on March 4, 2022, the Consortium obtained the highest overall score among all the bidders, and therefore won the above bid. Terms of payment: Payment will be made according to the following terms: (i) 10% of the contract price (excluding provisional sum and provisional valuation) shall be paid in advance before the commencement of work; (ii) construction progress payments amounting to 60% of the amount of construction work completed and accepted each month shall be made; (iii) payment of up to an aggregate of 65% of the contract price (excluding provisional sum and provisional valuation) shall be made after completion and final acceptance; (iv) payment of up to an aggregate of 98.5% of the project settlement price shall be made after completion of the auditing process; and (v) 1.5% of the project settlement price shall be paid within 30 days after expiry of the defect liability period.
Basis of Contract Price. The Integration Partner acknowledges that unless otherwise expressly stated in the Contract, the Contract Price:
Basis of Contract Price
