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  2. Finance Committee - Agenda - 11/2/2016 - P78

Finance Committee - Agenda - 11/2/2016 - P78

By dnadmin on Mon, 11/07/2022 - 09:48
Document Date
Wed, 11/02/2016 - 00:00
Meeting Description
Finance Committee
Document Type
Agenda
Meeting Date
Wed, 11/02/2016 - 00:00
Page Number
78
Image URL
https://nashuameetingsstorage.blob.core.windows.net/nm-docs-pages/fin_a__110220…

10.

14,

12.

13.

14,

15,

16.

writing.

In the absence of such an extension, liquidated damages shall be due the Buyer In the amount
of 0.1% (one-tenth of one percent) of the face value of the Vendor's quoted or modified
purchase price for each day performance exceeds the promised date(s). Such liquidated
damages may be acknowledged in Vendor's final invoice or taken by Buyer as a deduction to
such final invoice.

Any dispute in the arnount of liquidated damages shall be submitted to arbitration by either
Buyer or Vendor through the American Arbitration Association within 10 (ten) business days of
written notice given by the party declaring impasse. Vendor and Buyer agree to fully comply
with the arbitrator's decision within a reasonable time.

Article V

e Wi 6B ie

if during the Vendor's Time of Performance, Buyer requires revisions or other changes to be
made In the scope or character of the work to be performed, Buyer will promptly notify Vendor
in writing, For any changes to the scope of work, Vendor shall provide Buyer with a written
quote of change in price and/or change in time of performance and shall proceed with such
changes only upon written consent cf Buyer, which shall be construed as a modification to
Buyer's original purchase order.

Buyer will neither unreasonably request revisians nor unreasonably withhold final acceptance
of delivered products.

Article Vi
Term of Agreement

The term of this AGREEMENT shall commence upon execution and will continue until
September 30, 2016, o7 until otherwise terminated as provided by this AGREEMENT or the
RFP.

MAPC reserves the right at its sole discretion to extend the contract for up to two (2) additional
one-year terms ending September 30, 2017 and September 30, 2018 respectively.

In the event new contracts have not been procured and awarded before the end of e second
contract extension, MAPC reserves the right at its sole discretion to extend the contract for an
additional period of time until new contracts have been procured and awarded. However, in no
Instance shall any contract term, including extensions, exceed three (3) years in total.

The Vendor agrees to perform promptly upon execution of this AGREEMENT and will diligently

Page Image
Finance Committee - Agenda - 11/2/2016 - P78

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