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Alaska Administrative Code (Last Updated: January 12, 2017) |
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Title 2. Administration. |
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Chapter 2.12. Procurement. |
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Article 2.12.10. Contract Formation and Modification. |
Section 2.12.475. Changes, liquidated damages, and terminations.
Latest version.
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(a) A state contract may include a clause that provides for adjustment of the contract price, adjustment of the time of performance, liquidated damages, termination of the contract, or a term that the procurement officer deems appropriate. (b) A contract clause allowing the imposition of liquidated damages must specify their purpose, their amount, and the circumstances for which they are authorized. (c) A contract clause allowing termination of a contract for cause must specify the circumstances under which the state may terminate the contract, the procedural steps required for a termination to be effective, and the rights and responsibilities of the parties regarding payment and work in progress. (d) A contract clause allowing termination of a contract for convenience of the state must specify the procedural steps required for a termination to be effective and the rights and responsibilities of the parties regarding payment and work in progress.
Authorities
36.30.040;36.30.430