Common use of Pricing Standards Clause in Contracts

Pricing Standards. In order to publish accurate pricing in West Marine's annual Master Catalog, West Marine must receive Vendor's pricing information for the following calendar year by SEPTEMBER 1ST of the current calendar year. The standard effective date for these prices will be January 1st of the following year and end on December 31st of that same year. If Vendor's Category Manager is not notified of an upcoming price change by AUGUST 1ST, Vendor agrees that the current cost in effect at that time will be maintained. Price reduction by the Vendor on any item at any time shall automatically and without written approval by Vendor's Category Manager be effective with respect to all shipments shipped after the date of the price decrease. The effect of any price decrease on West Marine's existing inventory will be determined in accordance with the provisions of Section 5.3 (Price Protection).