PC 3.18

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13.

8 Adjustments for changes in costs

Contract price of works as defined in Article 2 of the Contract Agreement in whole or in part of each section
of works shall not be changed in case the determined contract price increases less than 3% after conclusion of
this contract. And the price of each element forming the contract price for each section shall not be changed in
case the determined contract price of each element forming the contract price for each section increases less
than 3% after conclusion of this contract.

However, the Contractor is entitled to adjust the contract price if the determined price increases more than
3% in whole or in part of each section of works, referred to in Article 2 of the Agreement. And the Contractor
is entitled to adjust the contract price of each element forming the contract price for each section in case the
determined contract price of each element forming the contract price for each section increases more than
3%. Unless the increase in the price of the elements occurred due to the Contractor's delay caused by the sole
fault of the Contractor.

Provisional Sums, which forms part of the agreed price referred to in Article 2 of the Agreement, which will
be used in whole or in part of each section of works, elements forming the price and other costs that could not
be precisely defined and foreseen at the time of conclusion of the Agreement, will be adjusted if the price of
such works or elements forming the price exceeds the amount of 3% of defined Provisional Sums.

Elements forming the price are:

Minimum guaranteed labor price by state authorities, price of sand, price of gravel, price of metal, price of
steel, price of cement, price of equipment, transport price, insurance costs, residential costs, price of oil, price
of gas, price of water, price of electricity, taxes on wages, residential taxes, authority fees, fluctuations in the
relative values of currencies, and other elements forming the price.
This refers to article 13.8 of FIDIC general terms.

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