VARIATION ORDER No.

Project Title : Construction of the Bar - Boljare Highway, V.O. Ref No : V.O. #3
Section: Smokovac - Uvač - Mateševo issued on: : 25-April-19
Contract Ref. No. : 01-827/1 Engineer's approval of offer ref. letter : IG/10999/JLO
Signed on: : 26-February-14
the Employer : The Government of Montenegro
Ministry of Transport and Maritime Affairs (MTMA)
the Contractor : China Road and Bridge Coorporation (CRBC)
the Engineer (FIDIC : INGEROP CONSEIL &INGENIERIE - GEODATA Engineering S.p.A

BRIEF REASONS FOR VARIATION ORDER (Detailes attached):

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Effect of variation Order on Contract
Is there an Overall Cost effect
*Cost offect of Variation to Work
*Is there an Extension of Time
*Cost Effect of Extension of time
comments (if any) Cost of Variation Order
√ Accepted Contract price : 809,577,356.14
√ Contract price before this VO : 809,577,356.14
√ Value of VO. #3 works : 30,456,569.00
□ Cost of Extension of Time [(-)]/[(+ : Nill

COST VALUATION PREPARATION VARIATION ORDER UPDATE:

Actual Estimated Cos Yes √ □ No Sub-clause 3.5 [Determination] applies as: Approved Variation 1-2 : 0
Cost agreed between the Parties √ Current VO : 30,456,569.00
Based on: □ rates Cost determined by the Engineer □
All BoQ Waiting Eng Determination (VO 4-5) : 19,300,000.00
Part□BoQ rates Probable Total VO Value : 49,756,569.00
√ rates
No Bill

EFFECT ON CONTRACT Time for Completion

Contract Value : Original Time for completion : 48 months
Original Contract Value : 809,577,356.14 Original Completion date : 11-May-19
Previous VO (Approved) : 0 Previously approved Extension og Time : Nill
VO remaining for approval (estimate) : 19,300,000.00 Adjusted Contract Duration :
Current VO #3 : 30,456,569.00 Adjusted Completion Date :
Time Impact of Current VO : 16.5 months
Probable Adjusted Contract Price : 859,333,925.14 Adjusted Completion date with Current V : 30-September-20

Reference to relevant Corespondence:

THE ENGINEER THE CONTRACTOR

Name: Name:
Signature: Signature:
Date: Date:
THE EMPLOYER THE EMPLOYER THE EMPLOYER

Ministry of Transport and Marytime affairs Project Implementation Unit Project Management Unit

Name: Name: Name:

Signature: Signature: Signature:
Date: Date: Date: