VOP definition
Examples of VOP in a sentence
Claims under this Condition shall be submitted to the Bill Paying Branch, certified to the effect that the “requirements of this Clause [insert the VOP clause number]” have been met.
When a VOP adjustment calculation is made, the Contractor shall be obliged to provide the goods and/or services at the prices calculated.
VOP adjustments shall be made on the VOP Review Date and the new prices, calculated in accordance with above, shall be incorporated into the contract through a formal contract amendment.
The new prices shall remain in place for 12 months until any subsequent adjustment is made at the next VOP Review Date.
VOP will also apply to any optional requirements or periods, should those optional requirements or periods have delivery dates in in Contract Periods 12, 13 or 14.
The Prices set for each item shall be the total maximum price the Contractor shall charge for the delivery of the goods and/or services covered within that item (prior to any VOP adjustment, where adjustment date has not yet passed).
The Index to be used for the VOP calculation shall be the “Top Level SPPI, Sections H to U excl.
VOP will apply also apply to any optional requirements or periods, should those optional requirements or periods have delivery dates in in Contract Periods 4 and 5.