Section 3-132-2 - Applicability(a) The provisions of this chapter shall apply to all construction contracts in excess of $100,000. The application of value engineering incentives to contracts shall not be construed to have an effect on the solicitation or the selection of the contractor.(b) The contractor may develop and submit value engineering change proposals for drawings, designs, specifications, or other requirements of the contract. If any proposal is accepted and approved, in whole or in part, by the procurement officer, the contract shall be modified and shall include an equitable adjustment of the contract price in accordance with this chapter.(c) This chapter shall not apply to any cost reduction proposal that is not identified as a value engineering change proposal by the contractor at the time of its submission to the procurement officer.[Eff NOV 17 1997] (Auth: HRS §§ 103-49, 103D-202) (Imp: HRS § 103-49)