Nevada Revised Statutes 408.346 – Monetary incentive for early completion of contract
Current as of: 2022 | Check for updates
|
Other versions
1. Any contract made or awarded by the Department for the construction, improvement, maintenance or repair of a highway or an appurtenance to that highway may include a provision for the payment of an additional amount of money to the person with whom the contract is made or to whom it is awarded if the person satisfactorily completes the construction, improvement, maintenance or repair of the highway or appurtenance before the date for completion of that construction, improvement, maintenance or repair set forth in the contract.
Terms Used In Nevada Revised Statutes 408.346
- Contract: A legal written agreement that becomes binding when signed.
- person: means a natural person, any form of business or social organization and any other nongovernmental legal entity including, but not limited to, a corporation, partnership, association, trust or unincorporated organization. See Nevada Revised Statutes 0.039
2. The amount of money to be paid pursuant to a provision included in a contract specified in subsection 1 and the date before which the work must be completed must be determined by the Department.