Section 820-RICR-00-00-3.4 - Modification and Termination of ContractsA. Modification Contract. The Corporation may require clauses in its contracts to which it is a party permitting changes or modifications by the Corporation.B. Termination of Contract - Default by Vendor. The Corporation may provide that a contract may be terminated for default by the vendor and may provide for liquidated damages.C. Termination of Contract - Convenience. The Corporation may provide that a contract may be terminated for the convenience of the Corporation or the vendor and in such cases shall provide for appropriate adjustments in price including, where applicable, reimbursement for the reasonable value of any nonrecurring costs incurred but not amortized in the price of any item, service of construction delivered under the contract.820 R.I. Code R. § 820-RICR-00-00-3.4
Adopted effective 12/31/2018