Temporary/Emergency Price Increases Sample Clauses

Temporary/Emergency Price Increases. All temporary/emergency price increases that have University approval go into effect one (1) week after their approval. These emergency price increases shall be reviewed monthly and at the point that the emergency no longer exists, prices shall be reduced to the approved annual price. When there is an emergency situation, temporary price adjustment requests shall be considered for those items where a dramatic cost differential exists. Requests for price increases in any area must be accompanied by as many of the following factors listed below as applicable:  Menu item(s) impacted;  Changes in menu, points‐of‐service, additions or levels of service provided which have been previously approved by University;  Verifications/substantiation of any other cost factor through submission of supplier invoices over the previous six‐month span;  Current/anticipated product cost;  Current/projected number of items sold per day for retail operations;  Current/anticipated participation (Residential Dining);  Comparison to retail operating situations in the geographic area;  Applicable local, regional and national statistical data.