Skip to content
Kılıç Kurumsal Danışmanlık A.Ş.Mustafa Kemal Atatürk

Price adjustment during a time extension

The principles governing how the price adjustment is calculated during the granted time extension period.

Where a time extension is granted for reasons attributable to the contracting authority or due to force majeure, the price adjustment continues to be calculated during the extended period. However, if the delay is attributable to the contractor's fault, no price adjustment is paid for the extended period, or it is calculated in accordance with the limited principles stipulated in the contract. It is important to document this distinction: correspondence and records concerning the reason for the time extension directly determine the calculation at the progress payment stage.

Legal basis: Law No. 4735, Articles 8 and 10; Principles Governing Price Adjustments