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REQUEST FOR TENDER Request for Tender (RFT)Supply of Bitumen Seals and AsphaltDeadline:2.00pm (AWST) Tuesday 17th August 2021Address for Delivery:THE TENDER BOX Shire of Waroona 52 Hesse Street WAROONA
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What is rise and fall?
Rise and fall refers to a mechanism in contracts, particularly in construction or procurement, that adjusts prices based on prevailing conditions, such as material costs or labor rates, ensuring that contractors are paid fairly for their work over time.
Who is required to file rise and fall?
Entities or contractors who are part of contracts that include a rise and fall clause are required to file rise and fall, typically in situations where project costs are subject to fluctuation due to market conditions.
How to fill out rise and fall?
To fill out a rise and fall, one must gather data on relevant cost indices, calculate the amount of adjustment based on the contract terms, and submit the required documentation or forms as specified by the governing body or contract guidelines.
What is the purpose of rise and fall?
The purpose of rise and fall is to protect both parties in a contract from unforeseen price fluctuations, ensuring fairness and financial stability throughout the project's duration.
What information must be reported on rise and fall?
Information that must be reported includes original contract amounts, adjustments due to cost changes, relevant index values, and any supporting documentation that justifies the adjustment claims.
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