1. (1) As used in this section, "Contract Price":

   1. (a) means the price under an existing Contract between the CRAU and a Contractor; and
   2. (b) does not include a proposed price or cost contained in a Solicitation Response or any other bid, proposal, or offer submitted by a person other than the Contractor under the existing Contract.

2. (2) A Contractor may:

   1. (a) increase the Contract Price only in accordance with the terms of the Contract; and
   2. (b) subject to Subsection (3), lower the Contract Price at any time during the time a Contract is in effect.
3. (3) A Contractor under a Multiple Award Contract resulting from a Bidding Process may not lower the Contract Price unless the Contractor's Solicitation Response that led to the Contract award was the lowest price Solicitation Response.

KEY: contracts, change orders

Date of Last Change: December 28, 2021

Authorizing, and Implemented or Interpreted Law: 63M-14-206