Common use of ECONOMIC ADJUSTMENT Clause in Contracts

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).

ECONOMIC ADJUSTMENT. Beginning twelve thirty six (1236) months after the effective date of this Master Contract and for every annual anniversary thereafter, Exhibit B labor rates not covered under Washington State Department of Labor & Industries prevailing wage as defined in section 6 of the prices set forth in Exhibit A Master Contract shall annually be adjusted, based upon the yearly percent changes change (whether up or down) in the United States Department of Labor, Bureau of Labor Employment and Wages from Occupational Employment Statistics (BLSOES) Producer Price Index survey for Audio and Video Equipment Technicians (PPISOC code 274011) Computer terminal and other computer peripheral equipment mfg - Other computer peripheral equipment and point of sale terminals, not seasonally adjusted, for the most recent yearWashington state area hourly mean wage. 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).