Common use of Contract Price Adjustment Clause in Contracts

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. 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. 3.2 As mentioned in paragraph 19.3, section II, the Authority may terminate at any time the provision of any part of the Services. The Authority may also modify (increase or reduce) the scope of work at any time during the contract. The contractor shall adjust the price following the new specification given by the Authority.