Common use of Price Adjustment Clause Clause in Contracts

Price Adjustment Clause. Renewal of this contract shall be for the original bid price; however, if the option to renew is exercised, TWC will permit a price adjustment upwardly or downwardly after the end of the first contractual period and each renewal period when correlated with the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), U.S. City Average, (All items) published by the Bureau Labor Statistics (BLS), Washington D.C. The initial contractual period rate may be adjusted by the latest announced change in the CPI-W for the prior 12-month period, limited to a maximum of 4% increase per contract period or any amount of decrease. At any time during the contract, in the event of government mandated increases in minimum wages and/or federal FICA or Social Security tax rates, TWC may allow a proportional rate increase.

Price Adjustment Clause. Renewal of this contract shall be for the original bid price; however, if the option to renew is exercised, TWC will permit a price adjustment upwardly or downwardly after the end of the first contractual period and each renewal period when correlated with the Consumer Price Index for Urban Wage Earners and Clerical Workers (CPI-W), U.S. City Average, (All items) published by the Bureau Labor Statistics (BLS), Washington D.C. The initial contractual period rate may be adjusted by the latest announced change in the CPI-W for the prior 12-12 month period, limited to a maximum of 4% increase per contract period or any amount of decrease. At any time during the contract, in the event of government mandated increases increase in minimum wages and/or federal FICA or Social Security social security tax rates, TWC may allow a proportional rate increase.