Contract Price Adjustment. The basis upon which the Contract Price shall be adjusted is as set out in paragraph 9.2 of Schedule IVB.
Contract Price Adjustment. 6.1. The Contractor agrees that prices shall remain firm for the Initial Contract Term. If consideration is to be given to adjusting the price after the Initial Contract Term or a Renewal Contract Term, the price may be adjusted only upon approval of a written request to the Procurement Agent. Upon receipt of the Contractor’s request, APS shall make a determination to approve or adjust the requested price increase based upon its investigations and the information provided by the Contractor. Any price adjustment agreed to shall take place only in accordance with the schedule defined above.
6.2. The request for an adjustment in the price shall include as a minimum, (1) the cause for the adjustment; (2) proposed effective date; and, (3) the amount of the adjustment requested with documentation to support the requested adjustment (i.e., appropriate Bureau of Labor Statistics index, change in manufacturer's price, etc.)
6.3. The request must be received at least thirty (30) days prior to the effective date of the expiration of the Initial Contract Term or Renewal Contract Term and shall become effective only upon approval by the Procurement Agent. The adjusted price shall not apply to orders received by the Contractor prior to the effective date of the approved increased price. Orders placed via Purchase Order, shall be considered to have been received by the Contractor after the fifth (5th) calendar day following the date issuance. The Procurement Agent may cancel, without liability to either party, any portion of the Contract affected by the requested adjustment and any materials, supplies or Services undelivered at the time of such cancellation.
Contract Price Adjustment. 15.1 - For the products delivered and the services rendered, the payments due by the Purchaser to the Supplier are the ones stated in the tender attached to the contract.
Contract Price Adjustment. In the event that the Contract Period is extended beyond the period specified in Section 2, 4, the Contract Price as detailed in Section 3, 2.1 (and detailed more fully per year in 7 below) shall be adjustable by a figure of up to the official Retail Price Index (RPIX) rate for the preceding 12 month period, for each subsequent 12 month period. This will however always be subject to adequate justification being provided by the Contractor to the Authority for any uplifts, based on the circumstances of this Contract and the Services being delivered hereunder.
Contract Price Adjustment. 3.1 In the event that the Contract Period is extended beyond the period specified in Section 2 the rates details in Section 3, 2.1 and 2.2 shall be adjustable based on a figure of up to but not exceeding the average Retail Price Index (RPI) rate over the immediately preceding 12 month period prior to the extension.
Contract Price Adjustment. 8.1 The Contract Price Adjustment mechanism and/or provisions relating to contract price adjustment, contained in this schedule is compulsory and binding on all tenderers.
8.2 Tenderers are not permitted to amend, vary, alter or delete this schedule or any part thereof unless otherwise stated in this schedule, failing which the tender offer shall be declared non-responsive.
8.3 Tenderers are not permitted to offer firm prices except as provided for in the Price Schedule, and if the tenderer offers firm prices in contravention of this clause the tender offer shall be declared non- responsive.
8.4 Any claim for an increase in the Contract price shall be submitted in writing to the: Director Supply Chain Management, City of Cape Town, P O Box 655, Cape Town, 8000 or by email to: XXX.Xxxxxxx@xxxxxxxx.xxx.xx Xxxxxxx.xxxxx@xxxxxxxx.xxx.xx
8.5 The CCT reserves the right to withhold payment of any claim for contract price adjustment while only provisional figures are available and until the final (revised) figures are issued by the relevant authority.
8.6 When submitting a claim for contract price adjustment a supplier shall indicate the actual amount claimed for each item. A mere notification of a claim for contract price adjustment without stating the new price claimed for each item shall, for the purpose of this clause, not be regarded as a valid claim.
8.7 The CCT reserves the right to request the supplier to submit auditor’s certificates or such other documentary proof as it may require in order to verify a claim for contract price adjustment. Should the supplier fail to submit such auditor’s certificates or other documentary proof to the CCT within a period of 30 (thirty) days from the date of the request, it shall be presumed that the supplier has abandoned his claim.
8.8 The effective date of any price increases granted will be the date on which the abovementioned documentation/claim is submitted or, by agreement between the Contractor and the City, a subsequent date on which the price increase will be effective.
8.9 In instances where the Contractor’s price claimed is less than entitled, the lesser price will be accepted.
8.10 The CCT reserves the right to apply the indices available at the date of the claim submitted by the Contractor.
Contract Price Adjustment. 12.6.1 The increase or decrease in Contract Price resulting from a change in the Work shall be determined by one or more of the following methods:
12.6.1.1 Unit prices set forth in the Agreement or as subsequently agreed between the parties;
12.6.1.2 A mutually accepted, lump sum, properly itemized and supported by sufficient substantiating data to permit evaluation by Design-Builder;
12.6.1.3 Costs, fees and any other markups set forth in the Agreement; and
12.6.1.4 If an increase or decrease cannot be agreed to as set forth in items 12.6.1.1 through 12.6.1.3 above and Design-Builder issues a Work Change Directive, the cost of the change of the Work shall be determined by the reasonable expense and savings in the performance of the Work resulting from the change, including a reasonable overhead and profit, as may be set forth in this Agreement. If the net result of both additions and deletions to the Work is an increase in the Contract Price, reasonable overhead and profit shall be calculated on the basis of the net increase to the Contract Price. Design-Build Subcontractor shall maintain a documented, itemized accounting evidencing the expenses and savings associated with such changes.
12.6.2 If unit prices are set forth in the Contract Documents or are subsequently agreed to by the parties, but application of such unit prices will cause substantial inequity to Design-Builder or Design-Build Subcontractor because of differences in the character or quantity of such unit items as originally contemplated, such unit prices shall be equitably adjusted.
12.6.3 If Design-Builder and Design-Build Subcontractor disagree upon whether Design-Build Subcontractor is entitled to be paid for any services required by Design-Builder, or if there are any other disagreements over the scope of Work or proposed changes to the Work, Design-Builder and Design-Build Subcontractor shall resolve the disagreement pursuant to Article 13 hereof. As part of the negotiation process, Design-Build Subcontractor shall furnish Design-Builder with a good faith estimate of the costs to perform the disputed services in accordance with Design-Builder’s interpretations. If the parties are unable to agree and Design-Builder expects Design-Build Subcontractor to perform the services in accordance with Design-Builder’s interpretations, Design-Build Subcontractor shall proceed to perform the disputed services, conditioned upon Design-Builder issuing a written order to Design-Build Subcontractor (i...
Contract Price Adjustment the Fully Burdened Hourly Rates are increased by 6% in accordance with the Consumer Price Index, All Items, Unadjusted, Urban Areas (“CPI-U”). Such increase will commence on July 1, 2023.
Contract Price Adjustment. 35.1 The contractor shall submit report for contract price adjustment within 14 days as soon as the above-mentioned modification has been approved, and the contract price will be adjusted after confirmed with the engineer in accordance with the following methods:
(1) If prices applicable to the changing of the Project have been provided in the Agreement, the Contract Price shall be adjusted in accordance with such existing prices;
(2) If there are only prices applicable to the situation similar to the changing of the Project in the Agreement, the Contract Price may be adjusted with reference to such similar prices;
(3) If no prices applicable to the changing of the Project or to the situation similar to the changing of the Project has been provided in the Agreement, the Contractor shall propose proper adjustment for the Contract Price according to the reasonable market price at that time according to the Agreement, and such adjustment shall be executed after the Owner’s confirmation.
35.2 The Contractor shall submit report for correcting the contract price within 14 days as soon as the above-mentioned modification has been approved, or the Owner may decide whether to adjust the contract price and the detailed amount for the adjustment and send notice to the contractor in writing.
35.3 The engineer should give confirmation about the contract price adjustment within 14 days after receiving the report. If the engineer gives no confirmation without any reason or proposing any consultation suggestions, the adjustment shall be regarded as confirmed 14 days after the report submitted.
35.4 If the two parties cannot make agreement regarding the price adjustment, it shall be solved in accordance with Article 41 of the special terms in Agreement in respect of dispute settlement.
35.5 If project change is caused by the Contractor, the Contractor shall have no right to require additional contract price.
Contract Price Adjustment. Contract may be adjusted annually.
