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Concept
Equitable Adjustment
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Summary
Equitable Adjustment
refers to a
Modification in contract terms
to fairly compensate a party for
Unforeseen changes in scope
or conditions that affect
Contract performance
. It ensures that neither party suffers
Undue loss
or gains an
Unfair advantage
due to
Circumstances beyond their control
.
Concepts
Contract Law
Change Order
Contract Modification
Cost Reimbursement
Scope Creep
Negotiation
Risk Management
Fair Compensation
Claims Management
Legal Remedies
Change Of Circumstances
Hardship Clause
Doctrine Of Changed Circumstances
Relevant Degrees
Contract Law 50%
Production Engineering and Planning 30%
Economic Theory and Concepts 20%
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