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5-22-17-6. Early performance; completion after termination date

IN Code § 5-22-17-6 (2019) (N/A)
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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.

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