Common use of Valuation Method Clause in Contracts

Valuation Method. All Variations shall be valued in accordance with the following valuation methods: (a) Where the varied work is of a similar character to, is executed under similar conditions as, and does not significantly change the quantity of the work described in the Contract Documents, the Rates for the Works as set out in the Contract shall be used for the valuation; or (b) Where the varied work is of a similar character to the work described in the Contract Documents and/or is not executed under similar conditions and/or involves significant changes in the quantity of such work described in the Contract Documents, the Rates for the Works as set out in the Contract shall be basis for the valuation but with a fair allowance for any differences in conditions and/or changes in quantity; or (c) Where paragraphs (a) and (b) above do not apply, then by valuation at fair market rates and prices; or (d) Where none of the above methods is applicable or appropriate in the circumstances of that particular varied work, the valuation shall be based on Daywork rates and prices of necessary Plant, materials or goods, labour and any additional Construction Plant necessary for the execution of the varied work subject to the following:

Valuation Method. All Variations shall be valued in accordance with the following valuation methods: (a) Where the varied work is of a similar character to, is executed under similar conditions as, and does not significantly change the quantity of the work described in the Contract Documents, the Rates for the Works as set out in the Contract shall be used for the valuation; or (b) Where the varied work is of a similar character to the work described in the Contract Documents and/or is not executed under similar conditions and/or involves significant changes in the quantity of such work described in the Contract Documents, the Rates for the Works as set out in the Contract shall be basis for the valuation but with a fair allowance for any differences in conditions and/or changes in quantity; or (c) Where paragraphs (a) and (b) above do not apply, then by valuation at fair market rates and prices; or (d) Where none of the above methods is applicable or appropriate in the circumstances of that particular varied work, the valuation shall be based on Daywork rates and prices of necessary PlantEquipment, materials or goods, labour and any additional Construction Plant necessary for the execution of the varied work subject to the following: