Ceiling Rate Sample Clauses
A Ceiling Rate clause sets a maximum limit on the rate or price that can be charged for specific goods, services, or labor under a contract. In practice, this means that even if market rates or costs increase, the party providing the goods or services cannot charge more than the agreed-upon ceiling rate. For example, in a consulting agreement, the hourly rate for consultants may be capped to prevent unexpected cost overruns. The core function of this clause is to provide cost certainty and protect the paying party from unforeseen price increases, thereby managing financial risk.
Ceiling Rate. The maximum annual percentage rate that may be applied to your Account balance(s).
Ceiling Rate. The maximum Proposed Price a Bidder may propose for an associated Job Title or Scope Variant while still being deemed to have submitted the lowest responsive bid. Confidential Information – Information that is trade secret or otherwise confidential or exempt from disclosure under Florida or federal law. Contract – The written agreement between the Department and the awarded Bidder(s) resulting from ITB No. 21-80101507-ITB. Contractor – A Vendor that enters into a Contract with the Department as a result of ITB No. 21-80101507-ITB. Customer – A State Agency or Eligible User, as defined in Rule 60A-1.001, Florida Administrative Code (F.A.C.). Department – The Department of Management Services, a State Agency. Information Technology (IT) Experience – Experience working in the computer science industry that involves performing IT services and utilizing equipment, hardware, software, firmware, programs, systems, networks, infrastructure, media, and related material. Information Technology (IT) Staff Augmentation Contract Experience – Demonstrated prior work experience in the allocation and outsourcing of qualified information technology Staff to augment a workforce on a temporary basis. Job Family – A group of related Job Titles within the Job Family Descriptions document, Contract Exhibit J. Job Title – The position described within the Job Family Descriptions document, Contract Exhibit J. The Job Family Descriptions document includes each Job Title’s general characteristics and dimensions. Operational Formula – The day-to-day actions of a company that are guided by a policy or procedure that is prescribed for repetitive use as a practice, in accordance with agreed upon operations that are aimed at obtaining a desired outcome. Prequalification – A determination by the Department that a responsible and responsive Bidder is deemed to have submitted the lowest responsive Bid and has met the minimum requirements within the solicitation (including capability, experience, and past performance) for participation
Ceiling Rate. The maximum Proposed Price a Bidder may propose for an associated Job Title or Scope Variant while still being deemed to have submitted the lowest responsive bid. Confidential Information – Information that is trade secret or otherwise confidential or exempt from disclosure under Florida or federal law. Contract – The written agreement between the Department and the Contractor resulting from 22-80101507-ITB. Contractor – A Vendor that enters into a Contract with the Department as a result of 22- 80101507-ITB. Customer – A State Agency or Eligible User, as defined in Rule 60A-1.001, Florida Administrative Code (F.A.C.). Department – The Department of Management Services, a State Agency. Information Technology (IT) Experience – Experience working in the computer science industry that involves performing IT services and utilizing equipment, hardware, software, firmware, programs, systems, networks, infrastructure, media, and related material. Information Technology (IT) Staff Augmentation Contract Experience – Demonstrated prior work experience in the allocation and outsourcing of qualified information technology Staff to augment a workforce on a temporary basis. Job Family – A group of related Job Titles within Attachment J, Job Family Descriptions. Job Title – The position described within Attachment J, Job Family Descriptions. The Job Family Descriptions document includes each Job Title’s general characteristics and dimensions. MyFloridaMarkerPlace (MFMP) – the State of Florida's eProcurement system and connects vendors with state government organizations that purchase goods and services. Operational Formula – The day-to-day actions of a company that are guided by a policy or procedure that is prescribed for repetitive use as a practice, in accordance with agreed upon operations that are aimed at obtaining a desired outcome. Prequalification – A determination by the Department that a responsible and responsive Bidder is deemed to have submitted the lowest responsive Bid and has met the minimum requirements
Ceiling Rate. The definition of "Ceiling Rate" in SECTION 1 of the Loan Agreement is amended to provide in its entirety as follows: