§ 102-418. Contract clauses and their administration.

(a)

Contract clauses.

(1)

The purchasing agent may promulgate regulations permitting or requiring the inclusion of clauses providing for adjustments in prices, time of performance, or other contract provisions.

(2)

All contract clauses shall be consistent with the provisions of this article and the regulations issued pursuant to this Code.

(b)

Price adjustments.

(1)

Adjustments in price pursuant to clauses promulgated under subsection (a) of this section shall be computed in one or more of the following ways:

a.

By agreement on a fixed-price adjustment before commencement of the pertinent performance or as soon thereafter as practicable;

b.

By unit prices specified in the contract or subsequently agreed upon;

c.

By the costs attributable to the events or situations under such clauses with adjustment or profit or fee, all as specified in the contract or subsequently agreed upon; or

d.

In such other manner as the contracting parties may mutually agreed upon.

(c)

Modification of clauses. The purchasing agent may vary the clauses for inclusion in any particular contract; provided that any variations are supported by a written determination that states the circumstances justifying such variation and provided that notice of any such material variation be stated in the invitation to bid or request for proposals.

(Res. No. 13-0052, 1-23-13)