Examples of Initial Contract in a sentence
If the final quantity of the Work done differs from the quantity in the Bills of Quantities for the particular item by more than 25 percent and provided the change exceeds 1 percent of the Initial Contract price, the Project Manager shall adjust the rate to allow for the change.
Upon mutual written agreement, the Parties may renew this Contract, in whole or in part, for a Renewal Term not to exceed the Initial Contract Term, pursuant to the incorporated Special Contract Conditions.
The Initial Contract Price is the Contract Price listed in the Employer's Letter of Acceptance.
The Initial Contract Term shall begin on October 1, 2021, or on the last date the Contract is signed by all Parties, whichever is later.
The Initial Contract Term and any Subsequent Contract Term(s) are together the “Contract Term”.