Changing TMC Clause Samples
The 'Changing TMC' clause defines the process and conditions under which the Target Maximum Cost (TMC) in a contract can be modified. Typically, this clause outlines the circumstances that justify a change, such as significant scope adjustments, unforeseen site conditions, or client-requested variations, and details the approval process required for such changes. By establishing a clear mechanism for adjusting the TMC, the clause helps manage financial risk and ensures both parties have a transparent method for addressing cost fluctuations during the project.
Changing TMC. If you cease using the services of your TMC, you may either:
(i) request the BTA be closed. Any outstanding amounts on this BTA will require immediate payment. Subject to approval by American Express, you may apply for a BTA for use at your new TMC; or
(ii) change your designated TMC by notifying us in the form and manner specified by American Express. From the statement period following such notification, your BTA statement will contain data submitted by the new TMC.
Changing TMC. If you cease using the services of your TMC, you may either:
(i) request the BTA be closed. Any outstanding amounts on this BTA will require immediate payment. Subject to approval by American Express, you may apply for a BTA for use at your new TMC; or
(ii) change your designated TMC by notifying us in the form and manner specified by American Express. From the statement period following such notification, your BTA statement will contain data submitted by the new TMC.
(c) Use of the BTA
(i) Once your request for a BTA has been approved by American Express, we will provide you with a BTA number. We will not issue plastic cards to you or any Account Users for BTA.
(ii) The TMC will accept Charges from your Account Users and ▇▇▇▇ them to your BTA. The TMC will prepare appropriate Record of Charge forms (‘ROC’) showing the BTA number quoted by you.
(iii) You agree that the BTA will be used for air travel purposes only and in accordance with your policies and procedures.
(iv) Cash advances cannot be charged to the BTA.
(v) Upon receipt of a ROC, we shall debit or credit the amount of the Charge to your BTA, as appropriate
(vi) You agree to be bound by the normal terms and conditions governing the booking of air travel at any TMC. This shall include, but is not limited to the obligation to pay applicable cancellation fees. With respect to the handling of the BTA or of any Charge, the BTA conditions take precedence.
(vii) You acknowledge that where TMCs submit Charges to your BTA, certain data may not be captured in your BTA statement. You agree that you may not withhold payment in such instances because of the absence of such data.
C: American Express @ Work™