Common use of Cost of Materials Clause in Contracts

Cost of Materials. A change in the price of an item of more than five percent (5%) between the date of Seller’s Quotation and the date of Seller’s procurement or installation shall warrant an equitable adjustment in the Agreement price, which the parties agree to negotiate in good faith.

Cost of Materials. A change in the price of an item of more than five percent (5%) between the date of Seller’s Quotation quotation and the date of Seller’s procurement or installation shall warrant an equitable adjustment in the Agreement price, which the parties agree to negotiate in good faith.