408.346 - Monetary incentive for early completion of contract. - Nevada Statutes

408.346  Monetary incentive for early completion of contract.

      1.  Any contract made or awarded by the Department for the construction, improvement, maintenance or repair of a highway or an appurtenance to that highway may include a provision for the payment of an additional amount of money to the person with whom the contract is made or to whom it is awarded if the person satisfactorily completes the construction, improvement, maintenance or repair of the highway or appurtenance before the date for completion of that construction, improvement, maintenance or repair set forth in the contract.

      2.  The amount of money to be paid pursuant to a provision included in a contract specified in subsection 1 and the date before which the work must be completed must be determined by the Department.

      (Added to NRS by 1999, 1652)