Indiana Code 5-22-17-6. Early performance; completion after termination date
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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:
(2) a specific dollar amount;
(1) a percentage of the contract amount; or
Terms Used In Indiana Code 5-22-17-6
- Contract: A legal written agreement that becomes binding when signed.
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.