Initiating Benchmarking Clause Samples
The "Initiating Benchmarking" clause defines the process by which one party may formally request a benchmarking exercise to compare the performance, pricing, or quality of goods or services under the agreement against industry standards or competitors. Typically, this clause outlines the steps for initiating benchmarking, such as providing written notice, agreeing on the scope and methodology, and selecting an independent third party to conduct the analysis. Its core practical function is to ensure transparency and competitiveness, allowing parties to assess whether the terms of the agreement remain fair and in line with market practices, and to address any discrepancies that may arise.
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Initiating Benchmarking. (1) The Benchmarking Process may be initiated by Customer once during the Term and at any time after [***] by giving at least 90 days’ prior Notice to Provider.
(2) Customer shall select the Benchmarker from the List of Approved Benchmarkers set forth below, or at Customer’s election, another Benchmarker shall be selected in accordance with the following process. [***] The Parties agree that the Benchmarker will not be compensated on a contingency fee basis.
(3) This Section 3 describes the independent process used to validate that the applicable Services meet the Best Value requirements. Customer may, at its option, elect to benchmark any combination of any of the following: [***]. The Benchmarking Process shall be conducted collaboratively with the Parties being fully and equally involved throughout.
Initiating Benchmarking. The Benchmark Process may be initiated by Customer by giving at least ninety (90) days prior notice to Administrator. Customer shall select the Benchmarker from the list of Benchmarkers set forth on the “Benchmarkers” Exhibit to the applicable Statement of Work. Customer represents that each Benchmarker is qualified to perform the Benchmark Process based on their demonstrated skills, experience, responsiveness, objectivity and fees.
Initiating Benchmarking. (a) The Benchmarking Process may be initiated by Customer at any time after [ * * * ] by giving at least 90 days’ prior Notice to Provider.
(b) Customer shall select the Benchmarker from the List of Approved Benchmarkers set forth below. [ * * * ]. The Parties agree that the Benchmarker will not be compensated on a contingency fee basis.
(c) This Section 3 describes the independent process used to validate that the applicable Services meet the Best Value requirements. Customer may, at its option, elect to CONFIDENTIAL TREATMENT HAS BEEN REQUESTED FOR PORTIONS OF THIS EXHIBIT. THE COPY FILED HEREWITH OMITS THE INFORMATION SUBJECT TO A CONFIDENTIALITY REQUEST. OMISSIONS ARE DESIGNATED [ * * * ]. A COMPLETE VERSION OF THIS EXHIBIT HAS BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE COMMISSION. benchmark any combination of any of the following: [ * * * ]. The Benchmarking Process shall be conducted collaboratively with the Parties being fully and equally involved throughout.
Initiating Benchmarking. (a.) The Benchmarking Process may be initiated by Customer once during the Term and at any time after [***] by giving at least 90 days’ prior Notice to Provider. (b.) Customer shall select the Benchmarker from the List of Approved Benchmarkers set forth below, or at Customer’s election, another Benchmarker shall be selected in accordance with the following process. [***]. The Parties agree that the Benchmarker will not be compensated on a contingency fee basis.