Rates Review Clause Samples
A Rates Review clause establishes a mechanism for periodically assessing and potentially adjusting the rates or fees specified in a contract. Typically, this clause outlines the frequency of reviews, the criteria or benchmarks for adjustment (such as inflation, market rates, or cost changes), and the process for negotiating new rates between the parties. Its core practical function is to ensure that the contract remains fair and economically viable over time by allowing rates to reflect changing circumstances, thereby reducing the risk of disputes or financial imbalance.
Rates Review. (a) On and from the date of this Agreement, the Rates set out in Item 5 of Schedule 1 will be adjusted in accordance with the Rates Review Mechanism.
(b) Subject to paragraphs (e), (f) and (g) below,, the Rates shall be adjusted by VicForests effective the first day of January and the first day of July in each Contract Year in accordance with the Rates Review Mechanism.
(c) For Rates adjusted pursuant to Part 2(a) and 2(b) of Schedule 3, VicForests will notify the Contractor 30 days prior to the application of the adjusted Rates and provide supporting calculations.
(d) For Rates adjusted pursuant to Part 2(d) of Schedule 3, VicForests will notify the Contractor as soon as practicable after the commencement of the month in which the adjusted Rates apply and provide supporting calculations.
(e) VicForests agrees that it shall meet with the Contractor to review the Rates where the Contractor demonstrates that there has been an extraordinary increase in the overall costs borne by the Contractor that directly relates to the provision of the Services. The causes may include changes in the domestic or international economy, a substantial change in work practices or a change of law or the physical environment which substantially increases the Contractor’s costs in carrying out its obligations under the Agreement. Any increase in the Rates that are agreed in writing by VicForests and the Contractor arising from this review may decrease the amount by which Rates are adjusted at the time the Rates are reviewed in accordance with the Rates Review Mechanism.
(f) The Contractor agrees that it shall meet with VicForests to review the Rates where VicForests demonstrates that there has been an extraordinary decrease in the overall costs borne by the Contractor that directly relates to the provision of the Services. The causes may include a change in the domestic or international economy, a substantial change in work practices, a change of law or the physical environment or efficiencies introduced by VicForests any or all of which substantially decreases the Contractor’s costs in carrying out its obligations under the Agreement.
(g) If VicForests makes a variation to the Utilisation Procedures in accordance with clause 6 or otherwise makes a variation to the Specifications, the Contractor may request a review of the Rates to account for any direct increase in the cost to the Contractor in providing the relevant Services that results from the variation to the Utilisation Pro...
Rates Review. (a) On and from the date of this Agreement, the Rates and Other Rates set out in Rates shall be adjusted in accordance with indicators and weightings from Part 3a of
(b) Subject to paragraphs (e), (f) and (g) below, the Rates and Other Rates shall be adjusted by VicForests effective the first day of January and the first day of July in each Contract Year in accordance with the Rates Review Mechanism.
(c) For Rates and Other Rates adjusted pursuant to Part 2(a) and 2(b) of Schedule 3, VicForests will notify the Contractor 30 days prior to the application of the adjusted Rates and Other Rates and provide supporting calculations.
(d) For Rates and Other Rates adjusted pursuant to Part 2(d) of Schedule 3, VicForests will notify the Contractor as soon as practicable after the commencement of the month in which the adjusted Rates and Other Rates apply and provide supporting calculations.
Rates Review. You agree that the hourly rates and allowance rates that you are charged in accordance with paragraph 7.1 may be reviewed and changed at Hireup’s sole discretion from time to time by giving you at least one (1) week prior notice. Any changes to the rates will also be published on the Platform. The changed rates will apply to all Bookings in accordance with the terms of the notice provided by Hireup.
Rates Review. (i) The Rates stated in Part 1 (Rates) shall apply until the [specify first/second/other] anniversary from the Commencement Date.
(ii) The Parties agree that 30 days prior to [the first (1st) / second (2nd)/each] anniversary of the Commencement Date, the new Rates shall be mutually agreed by the Parties. Failing agreement, the Rates shall be increased by [# xx per unit, or xx %, or x% of the increase in the consumer price index (CPI) as indicated by the [National Bank of Territory] over that period]. The Operator shall issue an updated schedule to reflect the adjusted Rates, which shall apply from [the first (1st) / second (2nd)/each] anniversary of the Commencement Date. [Minimum Call & Rebate / Bonus Repayment]