ECONOMIC ADJUSTMENT Sample Clauses

ECONOMIC ADJUSTMENT. Beginning twelve (12) months after the effective date of this Contract and for every annual anniversary thereafter, the prices set forth in Exhibit B – Prices for Equipment Rental shall be adjusted, based upon the percent changes (whether up or down) in the United States Department of Labor, Bureau of Labor and Statistics (BLS) indices described below, for the most recent year. Economic adjustment shall lag one (1) calendar quarter past the Contract commencement date to allow for publication of BLS data. All calculations for the index shall be based upon the latest version of data published as of the most recent quarter. Prices shall be adjusted on the quarter following the price adjustment. Price adjustments will be made in accordance with the percentage change in the United States Department of Labor, Bureau of Labor and Statistics (BLS) Producer Price Index (PPI), for Construction, Mining, and Forestry Machinery and Equipment Rental and Leasing Industry, NAICS 532412, issued for the prior 12 months of each contract term. The percentage difference in the PPI for the prior 12 months will determine the maximum allowable adjustment of original contract prices. No retroactive contract price adjustments shall be allowed. If an index is recoded (i.e., the recoded index is a direct substitute for the prior index according to the BLS), this Contract will use the recoded index, as applicable. If an index becomes unavailable, Enterprise Services shall substitute a proxy index. If there is not a direct substitute, the next higher aggregate index available will be used. The economic adjustment shall be calculated as follows: New Price = Old Price x (Current Period Index/Base Period Index). Contractor shall not make contract extensions contingent on price adjustments.

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ECONOMIC ADJUSTMENT. Exhibit B – Prices for Goods/Services is hereby amended by deleting the existing Exhibit B in its entirety and inserting the attached Exhibit B – Prices for Services to increase by 5.1% from the previous set price.

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ECONOMIC ADJUSTMENT. Beginning twelve (12) months after the effective date of this Statewide Contract and for every annual anniversary thereafter, the prices set forth in Exhibit B – Prices for Services shall be adjusted, based upon the percent changes (whether up or down) in the United States Department of Labor, Bureau of Labor and Statistics (BLS) indices described below, for the most recent year. Economic adjustment will lag one (1) calendar quarter past the Contract commencement date to allow for publication of BLS data. All calculations for the index shall be based upon the latest version of data published as of one year of the effective date each year. Prices shall be adjusted on February 1st. If an index is recoded (i.e., the recoded index is a direct substitute for the prior index according to the BLS), this Statewide Contract will use the recoded index, as applicable. If an index becomes unavailable, Enterprise Services shall substitute a proxy index. If there is not a direct substitute, the next higher aggregate index available will be used. The economic adjustment shall be calculated as follows: New Price = Old Price x (Current Period Pricing/Base Period Index)

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ECONOMIC ADJUSTMENT. Pursuant to Washington state prevailing wage law, all work performed under a public works contract must be classified into one or more of the many labor classifications for which prevailing wage rates have been established. Fire Detection, Suppression, and Inspection Services performed by electronic technicians; sprinkler fitters; plumbers, pipefitters, and steamfitters; laborers; and sheet metal workers and performed in public buildings fall under this law. See RCW 39.12 and WAC 000-000-000. All such public building service maintenance contracts are subject to prevailing wage rates as established by the Washington State Department of Labor and lndustries. Accordingly, the prevailing wage rates that are in effect shall constitute the prevailing wage rates, which must be paid for the first year of the term of this Contract. Subsequently, for the remainder of the Contract term, the applicable prevailing wage rates as set forth by the Washington State Department of Labor and lndustries shall apply. There shall be no other economic adjustment to this Contract.

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ECONOMIC ADJUSTMENT. Section 3.3 of the Contract is hereby amended by deleting this sentence, “Prices shall be adjusted on January 1st”. As it states elsewhere in Section 3.3 (Economic Adjustment), prices shall be adjusted on every annual anniversary of the Contract.

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ECONOMIC ADJUSTMENT. Beginning twenty-four (24) months after the effective date of this regional Statewide Contract and for every annual anniversary thereafter, the prices set forth in Exhibit B – Prices shall be adjusted, based upon the percent changes (whether up or down) in the United States Department of Labor, Bureau of Labor and Statistics (BLS) indices described below, for the most recent year. Economic adjustment will lag one (1) calendar quarter past the Contract commencement date to allow for publication of BLS data. All calculations for the index shall be based upon the latest version of data published as of September each year. Prices shall be adjusted on November 1. If an index is recoded (i.e., the recoded index is a direct substitute for the prior index according to the BLS), this Statewide Contract will use the recoded index, as applicable. If an index becomes unavailable, Enterprise Services shall substitute a proxy index. If there is not a direct substitute, the next higher aggregate index available will be used. The economic adjustment shall be calculated as follows: New Price = Old Price x (Current Period Index/Base Period Index). Building related engineering projects PCU5413305413301 Total mining, utilities, and manufacturing industries PCUAMUM--AMUM-- Total mining industries PCUOMIN--OMIN--

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ECONOMIC ADJUSTMENT. Beginning twelve (12) months after the effective date of this Master Contract and for every annual anniversary thereafter, the prices set forth in Exhibit A shall be adjusted, based upon the percent changes (whether up or down) in the United States Department of Labor, Bureau of Labor and Statistics (BLS) Producer Price Index (PPI) Computer terminal and other computer peripheral equipment mfg - Other computer peripheral equipment and point of sale terminals, not seasonally adjusted, for the most recent year. All calculations for the index shall be based upon the latest version of data published as of March 1 each year. If an index is recoded, that is the replacement is a direct substitute according to the BLS, this Contract will instead use the recode. If an index becomes unavailable, Enterprise Services shall substitute a proxy index. If there is not a direct substitute, the next higher aggregate index available will be used. The economic adjustment shall be calculated as follows: New Price = Old Price x (Current Period Index/Base Period Index).

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ECONOMIC ADJUSTMENT. The Contract Prices set forth herein are firm and fixed for two (2) years from the effective date of this Master Contract. Beginning twenty four (24) months after the effective date of this Master Contract and for every biennial anniversary thereafter, Contractor may request a biennial price adjustment. Requests for price adjustments must be made in writing and be received at least thirty (30) days prior to the adjustment date (the annual anniversary of the effective date of the Master Contract). In the event Contractor fails to timely request a price adjustment, Enterprise Services, at its sole discretion, may allow an untimely adjustment; Provided, however, that such adjustment will not be effective for any time prior to Enterprise Services’ price adjustment. Price adjustments will be made in accordance with the percentage change in the United States Department of Labor, Bureau of Labor and Statistics (BLS) Produce Price Index (PPI), Commodity Group Commercial and Other Goods Moving Services Item Code XXX00000000000000 for Used household and office goods moving. The percentage difference between the PPI issued at the effective date of the Master Contract, and the PPI issued on March 1, 2023 will determine the maximum allowable adjustment of original contract prices. Thereafter the percentage difference between the PPI issued on March 1, 2023 and the PPI issued on March 1, 2025 will determine the maximum allowable adjustment of contract prices. No retroactive contract price adjustments will be allowed. The economic adjustment shall be calculated as follows: New Price = Old Price x (Current Period Index/Base Period Index). Only final PPI data will be used to adjust contract pricing. This Master Contract will use seasonally unadjusted indexes. If an index becomes unavailable, Enterprise Services shall substitute a proxy index. If there is not a direct substitute, the next higher aggregate index available will be used.

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