1 / 4

Lecture 17 – Contract Modifications

Lecture 17 – Contract Modifications. CEE 474 – Engineering Project Management. Contract Modifications. Modifications, or change orders, are made to contracts to change the price, time, delivery, scope, or quality required of a contract. Modification Categories. Design error

camdyn
Download Presentation

Lecture 17 – Contract Modifications

An Image/Link below is provided (as is) to download presentation Download Policy: Content on the Website is provided to you AS IS for your information and personal use and may not be sold / licensed / shared on other websites without getting consent from its author. Content is provided to you AS IS for your information and personal use only. Download presentation by click this link. While downloading, if for some reason you are not able to download a presentation, the publisher may have deleted the file from their server. During download, if you can't get a presentation, the file might be deleted by the publisher.

E N D

Presentation Transcript

  1. Lecture 17 – Contract Modifications CEE 474 – Engineering Project Management

  2. Contract Modifications • Modifications, or change orders, are made to contracts to change the price, time, delivery, scope, or quality required of a contract.

  3. Modification Categories • Design error • Differing site condition • Value engineering • Criteria change (necessary for construction) • User/owner request • Novation (name change) • Default (adverse weather, strikes, acts of God, embargoes, etc.) • Termination for convenience (Government only, otherwise it would be breach of contract)

  4. Price and Time • The rule is to “leave them as you found them.” The contract modification should provide an equitable adjustment to contract price and time such that the adjustment for price & time reflects the actual change in price for the contractor to perform the changed work and the time is adjusted to reflected the difference in time it takes to perform the changed work.

More Related