(A) The Purchasing Agent may include provisions to permit price adjustments in a purchase contract. Inclusions of said provisions must conform to the rules set forth in IC 5-22-20-1 as amended from time to time. Adjustments in price under provisions established by IC 5-22-20-1 must be computed in one of the following ways:
(1) Price adjustment must be computed by agreement on a fixed price adjustment before the beginning of the pertinent performance, or as soon after the beginning of performance as practicable;
(2) Price adjustments must be computed by unit prices specified in the contract or subsequently agreed upon;
(3) Price adjustments must be computed by costs attributable to the events or situations under such classes with adjustments of profit or fee, all as specified in the contract or subsequently agreed upon;
(4) Price adjustments must be computed in such a manner as the contracting parties may mutually agree upon; or
(5) In the absence of agreement by the parties, price adjustments must be computed by a unilateral determination the governmental body of the costs attributed to the events or situation under such clauses with adjustments for profit or fee, all as computed by the governmental body in accordance with applicable rules adopted by the governmental body.
(B) The purchasing Agent may include provisions in a purchase contract concerning adjustments for time of performance under the contract.
(C) The Purchasing Agent may include in the purchase contract provisions dealing with the unilateral right of the town to order changes in the work within the scope of the contract or to order temporary work stoppage or delays in time of performance.
(D) The Purchasing Agent may include in a purchase contract provisions dealing with variations between the estimated quantities of work in a contract and the actual quantity delivered.
(Ord. 729, passed 9-22-98)