Hi,
I need guidance on following,
1. Contractor has initiated claim for rate change anticipating variation in the contract price as per the contract conditions.
2. Contract is being executred under FIDIC MDB edition 2005.
3. There are lot of extra items & also price variation clause applicable.
4. Till now No amendment for increase & decease in contract price has been issued to the contractor.
5. whether Variation should be calculated with respect to the original contract value against the (Executed BOQ item+extra items)
or variation should be calculated wrt revised contract price against the (Executed BOQ item+extra items)
or variation should be calculated wrt to original contract price againt the executed BOQ items only.
Above are the three cases and which one to be referred and under which clause.
6. In above scinario the price variation applicable to materials (such as cement, reinforcement steel,structural steel) will stand while calculating the variation against contract price.
I need guidance on following,
1. Contractor has initiated claim for rate change anticipating variation in the contract price as per the contract conditions.
2. Contract is being executred under FIDIC MDB edition 2005.
3. There are lot of extra items & also price variation clause applicable.
4. Till now No amendment for increase & decease in contract price has been issued to the contractor.
5. whether Variation should be calculated with respect to the original contract value against the (Executed BOQ item+extra items)
or variation should be calculated wrt revised contract price against the (Executed BOQ item+extra items)
or variation should be calculated wrt to original contract price againt the executed BOQ items only.
Above are the three cases and which one to be referred and under which clause.
6. In above scinario the price variation applicable to materials (such as cement, reinforcement steel,structural steel) will stand while calculating the variation against contract price.