§ 63G-6a-1206.5. Change in contract price.

(1) As used in this section, "contract price": (a) means the price under an existing contract between a procurement unit and a contractor; and (b) does not include a proposed price or cost contained in a solicitation response or any other bid, proposal, or offer submitted by a person other than the contractor under the existing contract. (2) A contractor may: (a) increase the contract price only in accordance with the terms of the contract; and (b) subject to Subsection (3), lower the contract price at any time during the time a contract is in effect. (3) A contractor under a multiple award contract resulting from a bidding process may not lower the contract price unless the contractor's solicitation response that led to the contract award was the lowest price solicitation response.