63G-6a-1206.5. Change in contract price.
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Effective 5/5/2021
63G-6a-1206.5. Change in contract price.
(1)As used in this section, "contract price":
(a)means the price under an existing contract between a procurement unit and a contractor; and
(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)A contractor may:
(a)increase the contract price only in accordance with the terms of the contract; and
(b)subject to Subsection
(3), lower the contract price at any time during the time a contract is in effect.
(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.
Amended by Chapter 406 , 2021 General Session