Quantities and Unit Prices Clause Samples
The 'Quantities and Unit Prices' clause defines how the amounts of work and their corresponding prices are established and managed within a contract. It typically specifies that payments will be based on the actual quantities of work performed, multiplied by the agreed unit prices, and may address how adjustments are handled if quantities differ from initial estimates. This clause ensures that both parties have a clear and fair method for calculating compensation, thereby reducing disputes over payment and accommodating changes in project scope.
Quantities and Unit Prices. The Contractor agrees that the prices hereinafter set forth are firm for the period of this Contract. The Contractor also agrees that the quantities noted are approximate and subject to increases or decreases at the sole option of NJ TRANSIT. NJ TRANSIT is obligated to pay for only those goods, materials or services and quantities thereof ordered, delivered/provided and accepted in accordance with this Contract.
Quantities and Unit Prices. 7.1. The Owner reserves the right to increase or decrease the amount of any class or portion of the Work. No such change in the Work shall be considered as a waiver of any condition of the Agreement nor shall such change invalidate any of the provisions thereof. Payment will be made at the unit or lump sum prices under the Agreement only for the Work actually performed or materials furnished and accepted.