25 Ind. Admin. Code 1.1-1-17
Current through October 31, 2024
Authority: IC 4-13-1.3-4
Affected: IC 5-22-20
Sec. 17.
A fixed price contract with price adjustment provides for variation in the contract price under special conditions defined in the contract. The formula or other basis by which adjustment in contract price can be made shall be specified in the solicitation and resulting contract. Adjustment allowed may be upward, downward, or both. Examples of special conditions for which contract adjustments provisions may be permitted by the department to be included in a fixed price contract include changes due to rapid and substantial price fluctuations, which can be related to an accepted index (such as contracts for gasoline, heating oils, and dental gold alloy).
25 IAC 1.1-1-17