Changes in Guaranteed Project Cost Clause Samples
The "Changes in Guaranteed Project Cost" clause defines how adjustments to the agreed-upon maximum price for a project are managed. It typically outlines the procedures for requesting, reviewing, and approving changes to the guaranteed cost, such as when unforeseen conditions or owner-initiated modifications arise. This clause ensures that both parties have a clear process for addressing cost increases or decreases, thereby minimizing disputes and maintaining financial transparency throughout the project.
Changes in Guaranteed Project Cost. A PCO shall include breakdowns pursuant to the revisions herein to validate any change in Guaranteed Project Cost.
Changes in Guaranteed Project Cost. A COR shall include breakdowns pursuant to the revisions herein to validate any change in Guaranteed Project Cost.
Changes in Guaranteed Project Cost. A COR shall include breakdowns pursuant to the revisions herein to validate any change in Guaranteed Project Cost. A COR shall also include any changes in time required to complete the Project. Any additional time requested shall not be the number of days to make the proposed change, but must be based upon the impact to the Construction Schedule as defined in the Contract Documents. If Contractor fails to request a time extension in a COR, then the Contractor is thereafter precluded from requesting time and/or claiming a delay.