Common use of Contract Price Adjustment Clause in Contracts

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. 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 655X X Xxx 000, Cape TownXxxx Xxxx, 8000 0000 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. 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.