Agenda - Council - 06/27/2017 - Laserfiche WebLink

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20.5 It is the Contractor's responsibility to notify his Surety of any changes affecting the general scope of the Work or changes in the Contract Price and the amount of the applicable bonds shall be adjusted accordingly. The Contractor will furnish proof of such adjustment to the Engineer upon its occurrence. ARTICLE 21. Change of the Contract Price 21.1 The Contract Price constitutes the total compensation payable to the Contractor for performing the Work. All duties, responsibilities and obligations assigned to or undertaken by the Contractor shall be at the Contractor's expense without change in the Contract Price. 21.2 The Contract Price may only be changed by a Change Order. If the Contractor is entitled by the Contract Documents to a change in the Contract Price, the claim shall be in writing delivered to the Engineer within five (5) calendar days of the occurrence of the event giving rise to the claim. All valid claims for adjustments in the Contract Price shall be determined by the Engineer. Any change in the Contract Price resulting from any such claim shall be incorporated in a Change Order. 21.3 The value of any Work covered by a Change Order or of any claims for a change in the Contract Price shall be determined in one of the following ways: 21.3.1 Where the Work involved is covered by unit prices contained in the Contract Documents, by application of unit prices to the quantities of the items involved; 21.3.2 By mutual acceptance of a lump sum; 21.3.3 By cost and a mutually acceptable fixed amount for overhead and profit; 21.3.4 If none of the above methods is agreed upon, the value shall be determined by the Engineer on the basis of costs and a percentage for overhead and profit. Costs shall only include labor (payroll, payroll taxes, fringe benefits, workmen's compensation, etc.), materials, equipment, directly related to the Work involved. The maximum percentage which shall be allowed for Contractors combined overhead and profit shall be as follows: 21.3.4.1 For all such Work done by his own organization, the Contractor may add up to fifteen percent (15%) of actual net costs for combined overhead and profit; provided that no overhead or profit shall be allowed on costs incurred in connection with premiums for public liability insurance or other special insurance directly related to such Work. In such case and also under this paragraph, the Contractor will submit in the form prescribed by the Engineer, an itemized cost breakdown together with supporting data. 21.4 The amount of credit to be allowed by the Contractor to the Owner for any such changes in cost, will be the amount of the actual net cost plus fifteen percent (15%). GC 17