Common use of Price Decrease Clause in Contracts

Price Decrease. OSP shall be given the immediate benefit of any price decrease. Contractor shall promptly notify OSP of the amount and effective date of each decrease. This decrease shall apply to orders placed on or after the effective date of the decrease. Invoices shall reflect prices in effect on the date OSP’s purchase order was written.

Price Decrease. OSP shall be given the immediate benefit of any price decrease. Contractor shall promptly notify OSP of the amount and effective date of each decrease. This decrease shall apply to orders placed on or after the effective date of the decrease. Invoices shall reflect prices in effect on the date OSP’s purchase order was written. a. Should such decreased prices again increase during the term of the Contract, including extensions, OSP shall honor the increase if acceptable documentation verifying the increase is submitted to OSP. OSP shall determine what constitutes acceptable documentation.