Method to Calculate Adjustments in Contract Price Sample Clauses

Method to Calculate Adjustments in Contract Price. Determination of the method to be used to calculate adjustments in the Contract Price shall be at the sole discretion of the Owner. The use by the Contractor of the Total Cost Method (calculating the total sum of expenses incurred on the project, less amounts paid, marked up by overhead and profit) of pricing changes and claims is expressly prohibited (provided however, the Owner may use a “make whole” analysis to determine the reasonableness of the Contractor’s claim). One of the following methods shall be used:
AutoNDA by SimpleDocs

Related to Method to Calculate Adjustments in Contract Price

  • Price Adjustment Civil works contracts of long duration (more than 18 months) shall contain an appropriate price adjustment clause.

Time is Money Join Law Insider Premium to draft better contracts faster.