CONTRACT PRICE LIST MODIFICATIONS Sample Clauses
The "Contract Price List Modifications" clause defines the process by which the prices listed in a contract can be updated or changed during the contract term. Typically, this clause outlines the conditions under which price adjustments are permitted, such as changes in market rates, cost of materials, or upon mutual agreement between the parties. It may also specify notice requirements or limitations on the frequency or amount of price changes. The core function of this clause is to provide a structured and transparent method for adjusting contract prices, thereby managing expectations and reducing disputes related to pricing over the course of the agreement.
CONTRACT PRICE LIST MODIFICATIONS. General Information The Contract Price List may be modified annually, on the anniversary date of individual Contract approval, or at any time at the request of OGS Procurement Services. Modifications may include addition/deletion of items within the scope of the Contract or any changes in List Price, based on Published Price Lists. Discounts may be increased, but may not be reduced. Submission of Update Requests Modification requests must be submitted to the Contract Manager listed on the Contract Award Notification 30-60 days prior to the anniversary date. Contractor will complete and submit Attachment 5 - Price List Modifications. The completed attachment shall identify: • Price increases • Price decreases • Products being added • Products being deleted OGS will review modification requests for “reasonableness of price” of any new or existing Products and reserves the right to: • Request additional information • Reject Contract modifications • Remove Products from Contracts • Remove Products from modification requests • Request additional discounts for new or existing Products Supporting Documentation Modification requests must be accompanied by the Published Price List, highlighting any items included in the request, documentation of reasonableness of price, and Attachment 5 - Price List Modifications. If NYS Net Prices are based on a GSA Schedule or WSCA Contract, that pricing must also be included in the update request.