Common use of Price Changes Clause in Contracts

Price Changes. Prices quoted on all bids, are the maximum for a period of 365 days from the date the contract becomes effective. Requested changes may include increases or decreases in price and must be accompanied by supporting information indicating market support of proposed modifications (such as the CPI and PPI, US City Average, as published by the US Department of Labor, Bureau of Labor Statistics). (a) ▇▇▇▇▇▇▇ County may request a review upon 30 days written notice that specifies what deliverable is being reviewed. At the review, each party may present supporting information including information created by, presented, or received from third parties. (b) Following the presentation of supporting information, both parties will have 30 days to review the supporting information and prepare any written response. (c) In the event the review reveals no need for modifications of any type, pricing will remain unchanged unless mutually agreed to by the parties. However, if the review reveals that changes may be recommended, both parties will negotiate in good faith for 30 days unless extended by mutual agreement of the parties. (d) If the supporting information reveals a reduction in prices is necessary and Contractor agrees to reduce rates accordingly, then ▇▇▇▇▇▇▇ County may elect to exercise the next one-year option, if available. (e) If the supporting information reveals a reduction in prices is necessary and the parties are unable to reach agreement, then ▇▇▇▇▇▇▇ County may eliminate all remaining contract renewal options. (f) Any changes based on the review must be implemented through the issuance of a Contract Change Notice.

Price Changes. Prices quoted on all bids, are the maximum for a period of 365 days from the date the contract becomes effective. Requested changes may include increases or decreases in price and must be accompanied by supporting information indicating market support of proposed modifications (such as the CPI and PPI, US City Average, as published by the US Department of Labor, Bureau of Labor Statistics). (a) ▇▇▇▇▇ ▇▇▇▇ County may request a review upon 30 days written notice that specifies what deliverable is being reviewed. At the review, each party may present supporting information including information created by, presented, or received from third parties. (b) Following the presentation of supporting information, both parties will have 30 days to review the supporting information and prepare any written response. (c) In the event the review reveals no need for modifications of any type, pricing will remain unchanged unless mutually agreed to by the parties. However, if the review reveals that changes may be recommended, both parties will negotiate in good faith for 30 days unless extended by mutual agreement of the parties. (d) If the supporting information reveals a reduction in prices is necessary and Contractor agrees to reduce rates accordingly, then ▇▇▇▇▇ ▇▇▇▇ County may elect to exercise the next one-year option, if available. (e) If the supporting information reveals a reduction in prices is necessary and the parties are unable to reach agreement, then ▇▇▇▇▇ ▇▇▇▇ County may eliminate all remaining contract renewal options. (f) Any changes based on the review must be implemented through the issuance of a Contract Change Notice.