(A) Price adjustments. The Town Clerk-Treasurer, with the direction of the Town Council, as purchasing agent, may include provisions to permit price adjustments in a purchase contract. The following provisions for price adjustments may be included.
(1) Price adjustments 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 possible.
(2) Price adjustments must be computed by unit price specified in the contract or subsequently agreed upon.
(3) Price adjustments must be computed by costs attributable to the events or situations under such clauses with adjustment of profit or fee, all as specified in the contract or subsequently agreed upon.
(4) Price adjustments must be computed in such other manner as the contracting parties may mutually agree upon.
(5) In the absence of agreement by the parties, price adjustments must be computed by a unilateral determination by the town of the cost attributable to the events or situations under such clauses with adjustment of profit or fee, all as computed by the town in accordance with applicable ordinances adopted by the town.
(B) Adjustments in time of performance. The purchasing agent may include provisions in a purchase contract concerning adjustments for time of performance under the contract.
(C) Unilateral rights of the town. The purchasing agent, with Town Council approval, may include in a purchase contract provisions dealing with the unilateral right of the town, the purchasing agent, 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) Quantity variations. 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. 1998-18, passed 12-28-1998)