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Ind. Code § 4-13.6-3-4

Increased compensation for early performance of contracts; deductions for late completion of contracts; notice

As added by P.L.5-1993, SEC.10.

Sec. 4. (a) The commissioner may specify in a contract that early performance of the contract will result in increased compensation at either:

(1) a percentage of the contract amount; or

(2) a specific dollar amount;

determined by the commissioner.

(b) The commissioner 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 commissioner.

(c) Notice of inclusion of contract provisions permitted under this section in a contract must be included in the solicitation.

Official source: Indiana General Assembly. Reproduced from public-domain Indiana statutes; confirm against the official source for the current text. Not legal advice.