How shall extra work be valued?

The value of any extra work or change shall be determined by the Owner in any one or more of the following ways:

 

        By a lump sum acceptable to the Contractor.

        By unit prices either stipulated in the Contract or subsequently agreed upon, provided the aggregate value of changes does not exceed 25% of the original Contract Price.

 o   Changes required by the Owner which in the aggregate exceed twenty five percent (25%) for overruns shall be covered by a supplemental contract. The Contractor shall not be obliged to execute such changes in accordance with the unit rate specified in his Bid, a supplementary contract being treated as one separate from and independent of the Contract.

o   Where the aggregate value of all changes per pay item exceed twenty five percent (25%) and the Contractor, without demanding the execution of a supplemental contract executes the additional work required without objection or protest, the value of the changes shall be determined in accordance with the second bullet point above.

        By actual direct cost plus value added tax, if any, plus fifteen percent (15%) for Contractor's profit and overhead.

o   Contractor shall keep and present a correct account of the direct cost together with vouchers and other supporting documents.