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The best method to calculate an equitable adjustment in such cases is to use the "modified cost-plus" approach. This involves identifying and segregating the costs associated with the change order from the unchanged work, allowing for a clear assessment of direct costs, indirect costs, and overhead. By documenting these costs accurately and applying the agreed-upon profit margin, the contractor can ensure that the adjustment reflects only the impact of the change, thus maintaining equity for both parties. It's essential to follow contract stipulations and maintain thorough documentation throughout the process.
What else can I help you with?
What two goals does IO try to balance?
IO, or Input-Output, typically aims to balance two primary goals: maximizing efficiency and ensuring equitable access. Efficiency focuses on optimizing resource use and minimizing waste, while equitable access seeks to provide fair opportunities and benefits to all stakeholders involved. Striking a balance between these goals is crucial for sustainable development and fostering inclusive growth.
What is another word for nutral?
impartial, unbiased, unprejudiced, objective, equitable, open-minded, nonpartisan, disinterested, dispassionate, detached, impersonal, unemotional, indifferent, uncommitted
Explain the different type of consideration in law?
The two types of consideration are executory and executed consideration. Executor consideration happens when promise to perform the act is in the future. On the other hand, executed consideration takes place when the promise of an act is already completed.
What are the requisites of a sound primary compensation structure?
A sound primary compensation structure should be internally equitable, externally competitive, transparent, and aligned with the organization's goals and values. It should also be legally compliant and support attracting, retaining, and motivating employees.
Splitting a purchase is?
One person paying half and another person paying half.
What is the least preferred method for calculating the equitable adjustment?
Total Cost
What percentage of the sub contractors should a general contractor make?
ten percent is the most reasonable and equitable number or percentage one might contemplate, keeping in mind the risks and management involved in such endeavors.
Are Laws are classified as procedural and equitable?
No, laws are not procedural or equitable
When was Scottish Equitable created?
Scottish Equitable was created in 1831.
When was Palais Equitable created?
Palais Equitable was created in 1891.
Does a contract for deed constitute legal or equitable title?
Equitable.Equitable.Equitable.Equitable.
What is the affix of equitable?
The affix of "equitable" is "equi-" which means equal or fair.
What is the meaning of equitable?
Possessing or exhibiting equity; according to natural right or natural justice; marked by a due consideration for what is fair, unbiased, or impartial; just; as an equitable decision; an equitable distribution of an estate; equitable men., That can be sustained or made available or effective in a court of equity, or upon principles of equity jurisprudence; as, an equitable estate; equitable assets, assignment, mortgage, etc.
Can you write short notes on equitable premium?
Yes you can because its equitable premium
Why do banks prefer legal mortgage to equitable mortgage?
Equitable mortgages are legal.
Can you write a sentence with the word equitable in it?
The transaction was deemed fair and equitable by all.
When was Equitable Trust Building created?
Equitable Trust Building was created in 1925.
