Sec. 6. (a) The purchasing agent may specify in a contract that early performance of the contract will result in increased compensation at either:
(1) a percentage of the contract amount; or
(2) a specific dollar amount;
determined by the purchasing agent.
(b) The purchasing agent may specify in a contract that completion of the contract after the termination date of the contract will result in a deduction from the compensation in the contract at either:
(1) a percentage of the contract amount; or
(2) a specific dollar amount;
determined by the purchasing agent.
(c) Notice of inclusion of contract provisions permitted under this section in a contract must be included in the solicitation.
As added by P.L.49-1997, SEC.1.
Structure Indiana Code
Title 5. State and Local Administration
5-22-17-1. Cost Plus a Percentage of Cost Contract
5-22-17-2. Cost Reimbursement Contract
5-22-17-3. Contracts for Supplies; Time Periods
5-22-17-4. Renewal of Contracts
5-22-17-6. Early Performance; Completion After Termination Date
5-22-17-7. Contract for Remediation of Hazardous Waste Site
5-22-17-8. Contract for Supplies and Services to Implement Ebt Program
5-22-17-9. Extension of Offers to Political Subdivisions
5-22-17-10. Contract for Petroleum Products
5-22-17-11. Contract for Sand, Gravel, Asphalt, Paving Materials, or Crushed Stone
5-22-17-12. Separate Contracts; Awarding Contract to an Offeror Other Than the Lowest Offeror