Common use of Price Reduction Clause in Contracts

Price Reduction. If at any time after the date of Bid Opening the Contractor makes a general price reduction in the comparable price of any Goods or service covered by the Contract to customers generally, an equivalent price reduction based on similar quantities and/or considerations shall apply to the Contract for the duration thereof, including any extensions. Such price reduction shall be effective at the same time and in the same manner as the reduction in the price to customers generally. For purpose of this provision, a “general price reduction” shall mean any horizontal reduction in the price of a Good or service offered