(A) Price adjustment. The purchasing agent may include provisions to permit price adjustments in a purchase contract. The following provisions for price adjustment may be included:
(1) Price adjustments must be computed by agreement on a fixed price adjustment before beginning of the pertinent performance or as soon after the beginning of performance as possible;
(2) Price adjustments must be computed by costs attributable to the events or situations under the clauses with adjustment of profit or fee, all as specified in the contract or subsequently agreed upon;
(3) Price adjustments must be computed in an other manner as the contracting parties may mutually agree upon; or
(4) In the absence of agreement by the parties, price adjustments must be computed by a unilateral determination by the Town Council of the costs attributable to the events or situations under the clauses with adjustment of profit or fee, all as computed by the Town Council in accordance with applicable rules adopted by the Town Council.
(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 may include in a 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) Quantity variations. The purchasing agency may include in a purchase contract provisions dealing with variations between the estimated quantities of work in a contract and the actual quantity delivered.
(1992 Code, § 2-236) (Ord. 996, § 1, passed 8-25-1998)