Common use of SERVICES AND Clause in Contracts

SERVICES AND. OR GOODS TO BE PROVIDED: Contractor shall provide the good(s) and/or service(s), as defined in this agreement, on an “as ordered “basis. No funds are obligated under this Pricing Agreement. Funds are obligated by purchase orders on an “as needed” basis. Contractor shall receive separate individual Purchase Orders for each individual requests. NMSU makes no guarantee as to the volume of goods which may be purchased under this Agreement. Prices are fixed for the first year of a Pricing Agreement. Thereafter, in the event of a product cost increase an escalation request will be reviewed by NMSU. Escalation requests are only to compensate for an actual cost increase and will not be considered for an increase in profit margin. Contractor shall notify NMSU if a cost decrease occurs and will adjust pricing accordingly. NMSU shall review the request by Contractor for price escalation and determine whether or not to accept such a request. Such requests must be made at least ninety (90) days prior to the expiration of the current contract term.