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GC-62
 
VARIATION IN QUANTITIES

The quantity of each item stated in the Bill of Quantities are estimates only for the purpose of bid comparison and except as herein provided in this Article, no claims shall be made against NIA for excess or deficiency therein and payment for actual work accomplished shall be made at the unit contract prices in the Bill of Quantities except as provided below.

(a) Overruns - No claims for unit price adjustment for overruns will be considered.

(b) Underruns -Claims for price adjustment for underrun will only be considered for payment after completion of the Contract Work including any authorized extension thereof, if the total cost of the accomplished Contract Work (plus the cost of work covered by Change Orders, Extra Work Orders and Supplemental Agreements, if any) is less than seventy five percent (75%) of the total original contract price or adjusted total original contract price. Accordingly, all underrun quantities below 75% of the original quantity of any or several items of work affected (except those items specially listed in the last paragraph of this Article) shall be subject to unit price adjustment. The adjustment shall be limited to the difference between seventy five percent (75%) of the original contract quantity and the corresponding actual quantity. Payment for such underruns of difference shall be calculated using fifteen percent (15%) of the corresponding unit prices to compensate the Contractor for overhead and lost profit. However, in case of a change order due to revision of plans which resulted in the deletion or reduction of a certain pay item but in lieu thereof another pay item has been substituted as covered by an Extra Work Order or the quantity of another existing pay items has been increased, this particular provision will not apply to that reduced or deleted pay item.

Unit contract prices will not be adjusted under this Article in the event of termination of the Contract.

No price adjustment under the provision under this Article will be made to all the items of work listed on Item 5, Appendix I, Volume II of these Bid Documents.