Q
During the construction period, price variation clause in contracts caters to__________________?
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A
A. Increase in rates of only important materials
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B
B. Variation in cost in materials element, labour element and petrol-oil-lubricant element
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C
C. Variation in total cost of the project on an ad hoc basis
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D
D. Rate of inflation
Correct Answer:
B. B. Variation in cost in materials element, labour element and petrol-oil-lubricant element
