Common use of CPI PRICE ADJUSTMENT Clause in Contracts

CPI PRICE ADJUSTMENT. Each October 1st during the Contract term, beginning October 2015, each dollar amount in the DAS chart shall be updated in accordance with the Consumer Price Index (CPI) indicated below in Paragraph 1, CPI. Price adjustments that are approved by OGS shall be included in a revised Form B (Class 1-2): Mini-Bid Response posted at the Vehicle Marketplace website. Notification of the approved price adjustments shall be communicated via email to the “Centralized Contract Contact," at the address specified in Appendix C: Light Duty Vehicles Documents, Number 1: Contractor Information, and be announced to Authorized Users via a Contract Update memo posted on the OGS website at xxxx://xxx.xxx.xx.xxx/purchase/spg/awards/4045122898can.HTM. The Price Adjustment Factor shall be calculated as set forth below in Xxxxxxxxx 0, Xxxxxxx to Calculate Price Adjustment Factor. The Price Adjustment Factor shall be rounded to the nearest thousandth and shall be applied to each dollar amount in the DAS chart to yield an adjusted price, which shall be rounded to the nearest five (5) dollar amount. The rounded adjusted prices shall be effective for all Mini-Bids that a Contractor responds to from October 1st and continuing through September 30th of the following calendar year. Each dollar amount may be increased from, decreased from, or remain the same as the previous values. The State reserves the right to modify or correct miscalculations or errors in the PPI Price Adjustment as set forth in this Section.

CPI PRICE ADJUSTMENT. Each October 1st during the Contract term, beginning October 2015, each dollar amount in the DAS chart shall be updated in accordance with the Consumer Price Index (CPI) indicated below in Paragraph 1, CPI. Price adjustments that are approved by OGS shall be included in a revised Form B (Class 1-2): Mini-Bid Response posted at the Vehicle Marketplace website. Notification of the approved price adjustments shall be communicated via email to the “Centralized Contract Contact," at the address specified in Appendix C: Light Duty Vehicles Documents, Number 1: Contractor Information, and be announced to Authorized Users via a Contract Update memo posted on the OGS website at xxxx://xxx.xxx.xx.xxx/purchase/spg/awards/4045122898can.HTM. The Price Adjustment Factor shall be calculated as set forth below in Xxxxxxxxx 0Paragraph 2, Xxxxxxx Formula to Calculate Price Adjustment Factor. The Price Adjustment Factor shall be rounded to the nearest thousandth and shall be applied to each dollar amount in the DAS chart to yield an adjusted price, which shall be rounded to the nearest five (5) dollar amount. The rounded adjusted prices shall be effective for all Mini-Bids that a Contractor responds to from October 1st and continuing through September 30th of the following calendar year. Each dollar amount may be increased from, decreased from, or remain the same as the previous values. The State reserves the right to modify or correct miscalculations or errors in the PPI Price Adjustment as set forth in this Section.