Price Adjustments. 17.1 Prices for Goods/Services supplied in terms of this Agreement shall be subject to review as indicated in the Schedule of Requirements/Works Order annexed hereto.
Price Adjustments. Prices for the Goods or Services listed in Exhibit B shall remain unchanged for twelve (12) months following the Effective Date of the Contract. The Contractor shall have the right to request a price adjustment only during the thirty (30) days immediately preceding the annual anniversary dates of the Effective Date of the Contract during the term of the Contract. During this thirty (30) day period, the Contractor may submit a request in writing to DAS for a price adjustment that is consistent with and relative to price changes originating with and compelled by manufacturer and/or market trends and which changes are outside of the Contractor’s control. The Contractor must fully document its request, attaching to the request, without limitation, such manufacturer and market data, as support the requested adjustment. DAS may, in its sole discretion, approve or disapprove the requested adjustment, in whole or in part. Any approved adjustment shall be final and shall remain unchanged until the next annual anniversary date of the Effective Date of the Contract.
Price Adjustments. Based on Contractor’s written request and justification, the City may approve an increase in unit prices on Contractor’s pricing pages consistent with the amount requested in the justification in an amount not to exceed the increase in the Consumer Price Index, San Diego Area, for All Urban Customers (CPI-U) as published by the Bureau of Labor Statistics, or 5.0%, whichever is less, during the preceding one year term. If the CPI-U is a negative number, then the unit prices shall not be adjusted for that option year (the unit prices will not be decreased). A negative CPI-U shall be counted against any subsequent increases in the CPI-U when calculating the unit prices for later option years. Contractor must provide such written request and justification no less than sixty days before the date in which City may exercise the option to renew the contract, or sixty days before the anniversary date of the Contract. Justification in support of the written request must include a description of the basis for the adjustment, the proposed effective date and reasons for said date, and the amount of the adjustment requested with documentation to support the requested change (e.g. CPI-U or 5.0%, whichever is less). City’s approval of this request must be in writing.
Price Adjustments. The Contractor shall adhere to the initial and renewal term hourly rates (pricing) provided in its Cost Proposal. The Department will not allow for increases to these prices. Negotiated prices are not-to-exceed prices and lower prices may be negotiated by the Department and/or the Customer.
Price Adjustments. Should it become necessary or proper during the term of this Contract to make any change in design or any alterations that will increase price, Region 4 ESC must be notified immediately. Price increases must be approved by Region 4 ESC and no payment for additional materials or services, beyond the amount stipulated in the Contract shall be paid without prior approval. All price increases must be supported by manufacturer documentation, or a formal cost justification letter. Contractor must honor previous prices for thirty (30) days after approval and written notification from Region 4 ESC. It is the Contractor’s responsibility to keep all pricing up to date and on file with Region 4 ESC. All price changes must be provided to Region 4 ESC, using the same format as was provided and accepted in the Contractor’s proposal. Price reductions may be offered at any time during Contract. Special, time-limited reductions are permissible under the following conditions: 1) reduction is available to all users equally; 2) reduction is for a specific period, normally not less than thirty (30) days; and 3) original price is not exceeded after the time-limit. Contractor shall offer Region 4 ESC any published price reduction during the Contract term.
Price Adjustments. Prices shown in this Contract shall remain firm for the first 12 period of the Contract. After that, in recognition of the potential for fluctuation of the Contractor’s cost, a price adjustment (increase or decrease) may be requested by either the City or the Contractor on the anniversary date of the Contract or as may otherwise be specified herein. The percentage change between the contract price and the requested price shall not exceed the percentage change between the specified index in effect on the date the solicitation closed and the most recent, non-preliminary data at the time the price adjustment is requested. The requested price adjustment shall not exceed ten percent (10%) for any single line item and in no event shall the total amount of the contract be automatically adjusted as a result of the change in one or more line items made pursuant to this provision. Prices for products or services unaffected by verifiable cost trends shall not be subject to adjustment.
Price Adjustments. Prices shall be firm against increase for 24 months from the original effective date of contract. Requests for increase/decrease may be submitted to the State if there has been, or is, a documented change in cost, with the State reserving the right to accept or reject requests within thirty (30) days after receipt of request. Price increases may be requested by the Contractor one (1) time per year, on the contract anniversary date, (following the 24-month price freeze) by using the Producer Price Index (PPI) for Industry: ―Data Management and Storage, Information Transformation and other Services‖, as published by the U.S. Bureau of Labor Statistics. The rate adjustments will be based on the PPI (Series ID PCU5182105182104). The Contractor may offer price reductions at any time and the State may request a reduction in price any time the PPI shows de-escalation in costs. The last published non-preliminary Producer Price Index for the month prior to the award/anniversary date of the contract will be the reference date for the beginning (old) PPI Index. The most recent published Producer Price Index prior to the contract year to be priced will establish the reference data for the New PPI Index. All requests for price adjustments must be substantiated by manufacturer's certification of cost or other documentation and approved by the State of Florida‘ Contract Administrator prior to implementation. There can only be one rate increase adjustment per twelve (12) month period and the maximum net rate percentage increase per twelve (12) month period shall not exceed the PPI allowable amount or 3%, whichever is less. The price escalation/de-escalation formula will be tied to the change in the commodity for Data Management and Storage, PPI Series ID PCU5182105182104. The formula is calculated by dividing the New PPI Index by the Old PPI Index to identify the Price Escalation Rate. The Old Price is multiplied by the Price De-escalation/Escalation Rate to determine if a price reduction or increase is warranted. This formula applies after Year 2 of the contract and on each subsequent anniversary of the contract effective date. Details on how this PPI has historically performed can be found at the Bureau of Labor Statistics web site and following the below steps: Go to BLS website: xxxx://xxx.xxx.xxx/ppi/#data Click on the PPI Databases link Select ―Industry Data (one screen)‖ Box 1 - Type ―518210‖ in the ―Select an Industry‖ box and click the adjacent ―Find‖ button. Box...
Price Adjustments. 8.5.1 Not more than once per calendar year, Lonza may adjust the Price in accordance with the [***] for the previous calendar year. The new Price reflecting such Batch Price adjustment shall be effective for any Batch for which the Commencement Date is on or after the date of Lonza’s notice to Customer of the Price adjustment.
Price Adjustments. Prices are firm for the entire Contract period and the extension periods, if any, except for the price changes as outlined below. Price adjustments that are approved by OGS shall be communicated via email to the “Centralized Contract Contact," at the address specified in Appendix C: School Bus Contract Documents, Number 1: Contractor Information, and be announced to Authorized Users via a Contract Update memo posted on the OGS website at xxxx://xxx.xxx.xx.xxx/purchase/spg/awards/4052423000can.HTM.
Price Adjustments. The Contract prices are the maximum prices the Contractor may charge. Pricing shall remain firm and fixed for one (1) year from the Contract’s effective date. Contractor, however, may propose price increases on a semi-annual basis by written notice to the Contract Administrator. Price increases are to be on a pass-through basis only and must not produce a higher profit margin for Contractor than that established by original Contract pricing. Requests must include supporting documentation such as price increases at the manufacturer's level and/or other documentation of cost increases. Consideration of price increases will be at the sole discretion of the Contract Administrator. If a price increase is approved in part or in full, the resulting new Contract pricing will be implemented through a Contract Amendment. Contractor may not make Contract extensions contingent on price adjustments.
