Common use of Price Differential Clause in Contracts

Price Differential. The cost or credit resulting from a change in the Work shall be determined in one or more of the following ways: 27.03.01 By estimate, with a detailed cost breakdown as set forth in GC-27.03.03 below, and acceptance in a lump sum, with a maximum combined markup to the Owner, for the Contractor and all affected subcontractorsper Exhibit C - Contractor’s Fee Proposal. 27.03.02 By unit prices named in the Contract or subsequently agreed upon. 27.03.03 If the parties are unable to agree on one of the above methods, then the amount shall be determined by force account under the following formula: 27.03.03.01 The actual cost of all direct labor performed (including foremen employed continuously on the Work, but not the salary, or any part thereof, of the Contractor’s superintendent) and the actual materials furnished for and used in such Work, less all available cash, trade, or other discounts. 27.03.03.02 Rental for the use of such items of equipment as have an individual value in excess of One Thousand Dollars ($1,000); provided, however, that the amount of such rental charge and the length of time and probable cost of the use of such equipment shall have been authorized in writing by the Owner. 27.03.03.03 All proportionate sums paid for royalties, permits, and 27.03.03.04 All proportionate premiums for public liability insurance, workers’ compensation, and other proper and necessary insurance, as well as all applicable payroll taxes. 27.03.03.05 Either a predetermined lump sum; fixed fee; or per Exhibit C -

Price Differential. The cost or credit resulting from a change in the Work shall be determined in one or more of the following ways: 27.03.01 By estimate, with a detailed cost breakdown as set forth in GC-27.03.03 GC−27.03.03 below, and acceptance in a lump sum, with a maximum combined markup to the Owner, for the Contractor and all affected subcontractorsper Exhibit C - − Contractor’s Fee Proposal. 27.03.02 By unit prices named in the Contract or subsequently agreed upon. 27.03.03 If the parties are unable to agree on one of the above methods, then the amount shall be determined by force account under the following formula: 27.03.03.01 The actual cost of all direct labor performed (including foremen employed continuously on the Work, but not the salary, or any part thereof, of the Contractor’s superintendent) and the actual materials furnished for and used in such Work, less all available cash, trade, or other discounts. 27.03.03.02 Rental for the use of such items of equipment as have an individual value in excess of One Thousand Dollars ($1,000); provided, however, that the amount of such rental charge and the length of time and probable cost of the use of such equipment shall have been authorized in writing by the Owner. 27.03.03.03 All proportionate sums paid for royalties, permits, andand inspection fees. 27.03.03.04 All proportionate premiums for public liability insurance, workers’ compensation, and other proper and necessary insurance, as well as all applicable payroll taxes. 27.03.03.05 Either a predetermined lump sum; fixed fee; or per Exhibit C -− Contractor’s Fee Proposal, which fee shall be applied to the total of Article 27.03.03.01, Article