Are the Prices reduced if a compensation event reduces the total Defined Cost and the event is a correction of an assumption stated by the Project Manager for assessing an earlier compensation event?
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If the effect of a compensation event is to reduce the total Defined Cost and the event is a correction of an assumption stated by the Project Manager for assessing an earlier compensation event, the Prices are reduced. See Clause 63.10 in man payment options A and B and clause 63.11 in options C and D.