18Contract Price. In consideration of the Contractor’s performance of its obligations under the Contract, the Agency shall pay the Contract Price in accordance with Clause 20. The Contract Price shall be in GBP/Sterling exclusive of VAT and shall remain firm for at least two [2] years from the date of the Commencement of the Contract. Thereafter the Contract Price shall be amended in line with CPI? calculated in accordance with the Pricing Schedule and recorded as a Variation under Clause 43. However the price increase in any one year shall not exceed CPI or five percent [5%], whichever is the lower. At the time of the request, the Contractor shall provide detailed justification of the price increase and other such information as the Agency may reasonably require to verify the request for increase. Full justification for the price increase shall be given in writing at least three [3] months before the date in which the desired variation would come into effect. The Contract Price will be revised in accordance with Clause 18.3 . No increase in the prices shall be permitted within one [1] year of a previous increase. For the purpose of Travel and Subsistence, Home Office/Foreign Commonwealth rates will apply. An example of the current rates can be found in the Travel and Subsistence Rates Schedule. It is the responsibility of the Contractor to ensure that they have the most up to date version when using the rates.
