Escalation/De-escalation Clause Sample Clauses
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Escalation/De-escalation Clause. In the event that prevailing market conditions warrant an adjustment in bid prices contained in the contract, the following escalation/de- escalation clause shall be the only clause applicable or acceptable:
1. Contractor shall give written notice to the Purchasing Agent of any proposed changes from contract prices not less than thirty (30) calendar days prior to the effective date of said price changes.
2. Such notice must be accompanied by a certified copy of the supplier's advisory or notification to the contractor of price changes.
3. No price escalation will be authorized in excess of the amount of the increase referred to on the supplier's notice.
4. Purchasing shall issue a contract Addendum with revised pricing upon receipt and approval. The Addendum will be executed by both parties for the remaining term of the contract.
5. The approved price change shall be honored for all orders received by the contractor after the effective date of such price change.
6. Approved price changes are not applicable to orders already issued and in process at time of price change.
7. Purchasing reserves the right to audit and/or examine any pertinent books, documents, papers, records or invoices relating directly to the contract transaction in question after reasonable notice and during normal business hours.
8. The Purchasing Agent retains the right to determine whether or not such proposed price changes are in the best interests of the City/County.
9. If in the opinion of the Purchasing Agent any proposed increase is found unacceptable, the Purchasing Agent reserves the right to cancel the contract upon thirty (30) calendar days written notice.
10. Contractors must tie any price change clause to an industry-wide or otherwise nationally recognized index, or some other form of verifiable document. Contractor will put the Purchasing Agent on the mailing lists for such publication so that the Purchasing Agent can monitor said changes. Such membership will be no cost to the Owners.
Escalation/De-escalation Clause. In the event that prevailing market conditions warrant an adjustment in bid prices contained in the contract, the following escalation/de- escalation clause shall be the only clause applicable or acceptable:
1. Contractor shall give written notice to the Purchasing Agent of any proposed changes from contract prices not less than thirty (30) calendar days prior to the effective date of said price changes.
2. Such notice must be accompanied by a certified copy of the supplier's advisory or notification to the contractor of price changes.
3. No price escalation will be authorized in excess of the amount of the increase referred to on the supplier's notice.
Escalation/De-escalation Clause. In the event that prevailing market conditions warrant an adjustment in bid prices contained in the contract, the following escalation/de- escalation clause shall be the only clause applicable or acceptable:
Escalation/De-escalation Clause. In the event of a product cost increase, an escalation request will be reviewed by this office and approved by State Purchasing on an individual basis. Please be aware this measure is not intended to allow any increase in profit margin, only to compensate for an actual cost increase. Price decreases as well shall apply. If the vendor’s prices are reduced for any reason, users shall receive the benefit of such reductions. Price increases and/or decreases will not be retroactive to orders already in-house or back-ordered. Orders will be filled at the price in effect of the date of the receipt of the order by the awarded vendor. All requests for price increases must include the following information from the vendor:
Escalation/De-escalation Clause. All prices set forth in Attachment B shall be firm against any increase for the applicable performance period and any transition period for this Agreement.
14.1 Thirty days (30) days prior to end of the applicable performance period and before any vote by the elected School Board on the renewal of this Agreement, the District may entertain a request from the Contractor for the escalation (increase) in the price listed in Attachment B in any subsequent period. The basis for this price increase request will be a cost increase to the Contractor that exceeds ten percent (10%) of the price listed in Attachment “A” of this Agreement.
14.2 Contractor shall provide supporting documentation for price increase requests. Contractor may provide to the District a letter from the manufacturer or supplier on the manufacturer’s/supplier’s letterhead with an authorized signature and date, confirming the Contractor’s increased cost. The letter shall state the current manufacturer’s/supplier’s price along with the manufacturer’s/supplier’s increased price. Contractor may also include in their request evidence of price impacts on any component of contract delivery including but not limited to materials, transportation, labor, unforeseen statutory or regulatory mandates, or other impacts. Inclusion by Contractor does not guarantee an approved price adjustment. The District shall have the right to require additional documentation and evidence from the Contractor pertaining to the requested increase, and the Contractor must comply with any District request.
14.3 In response to a request for a price increase, the District may agree to the price increase requested by the Contractor, the District may agree to a price increase in some amount but less than the amount requested by the Contractor, the District may decline to approve any price increase, or the District may decide to no longer order the product from Contractor. Any changes to the goods ordered and the price set forth in Attachment B of this Agreement may only be accomplished though the execution of a new written agreement between the District and the Contractor or through a written modification to this Agreement, to the extent allowed by Georgia law. Any such written agreement or written modification to this Agreement must be recommended by the Director of the School Nutrition Program, and the Superintendent, or her designee, to the District’s governing body, the elected School Board, and subsequently approved by the ele...
Escalation/De-escalation Clause. The rates quoted by the tenderer shall remain firm during the currency of the contract including extended period also, except increase/decrease in the minimum wages of the labour notified by MP Govt. The escalation on account of increase in the minimum wages shall be compensated to the contractor as per the formula indicated below: The MP Govt. notifies minimum wages of labour from time to time. The above formula for escalation willbe used for the minimum wages prevailing at the time of opening of tender (Technical bid). “Escalation/De-escalation shall be calculated on the minimum wages declared in the notifications issued by MP Govt. as applicable on the date of opening of tender. Even if the notification is issued at a later date, it shall be considered from retrospective effect and the same shall be the basis for calculations” Once the price Bids are opened, NFL under no circumstances will entertain any correspondence regarding offer of reduction in rates etc. of any kind by the tenderer unless specifically asked by NFL. Along with the quotation, the tenderers should submit an undertaking that they would abide by the terms of contract detailed in our NIT.
Escalation/De-escalation Clause. In the event that prevailing market conditions warrant an adjustment in bid prices contained in the contract, the following escalation/de- escalation clause shall be the only clause applicable or acceptable:
1. Contractor shall give written notice to the Purchasing Agent of any proposed changes from contract prices not less than thirty (30) calendar days prior to the effective date of said price changes.
2. Such notice must be accompanied by a certified copy of the supplier's advisory or notification to the contractor of price changes.
3. No price escalation will be authorized in excess of the amount of the increase referred to on the supplier's notice.
4. Purchasing shall issue a contract Addendum with revised pricing upon receipt and approval. The Addendum will be executed by both parties for the remaining term of the contract.
5. The approved price change shall be honored for all orders received by the contractor after the effective date of such price change.
6. Approved price changes are not applicable to orders already issued and in process at time of price change.
7. Purchasing reserves the right to audit and/or examine any pertinent books, documents, papers, records or invoices relating directly to the contract transaction in question after reasonable notice and during normal business hours.
Escalation/De-escalation Clause. All prices set forth in Schedule A shall be firm against any increase for the performance period and any transition period for this Agreement. Ninety days (90) days prior to end of the performance period and before any renewal of a resulting of any contract by the District, the District may entertain a request from the Contractor for the escalation (increase) in the price listed in Schedule A in any subsequent, renewal contract. The basis for this price increase request will be a cost increase to the Contractor that exceeds ten percent (10%) of the price listed in Attachment “A” of this Agreement.
Escalation/De-escalation Clause. All prices offered shall be firm against any increase for (1) year from the effective date of the contract. Thirty (30) days prior to renewal, SCCPSS may entertain a request for escalation in an award extension in accordance with the most recently published Producer Price Index at the time the Bidder responds to a request for extension. For purposes of this section, PPI Index: 56-1720 – Custodial Supplies as published by the United States of Department of Labor, Bureau of Labor Statistics will be the benchmark. SCCPSS reserves the right to accept or reject the request for a price increase. If the price increase is approved, the price will remain firm for the one
(1) year extension period. This clause also enables SCCPSS to seek de-escalation on the basis of the same cited index and terms.
Escalation/De-escalation Clause. Pricing offered must be held firm for the first term of the contract. The State will, however, allow the awarded supplier (s) to submit annual price adjustment requests prior to any subsequent renewals. The price adjustment request must be submitted at least sixty (60) days before the contract renewal date. Any approved increase will not exceed the percentage increase as shown on the Produce Price Index (PPI) – for Offender Blankets (Commodity Code: 80512) and must be substantiated by documentation justifying the increase. Subsequently, the State expects any market reductions to be passed along to the State. If the previously cited index changes or is discontinued, the State will select the next appropriate index on which price adjustments will be based.