ECONOMIC PRICE ADJUSTMENTS a) If DES elects to extend this Contract for any Renewal Terms, the Contract pricing for each Renewal Term shall be automatically increased or decreased, as applicable, by DES by not more than the percentage increase/decrease of the U.S. Department of Labor “Consumer Price Index, US City Average, All Items, Not Seasonally Adjusted” (CPI-U, Series Id: CUUR0000SA0).
b) The baseline index shall be the index announced for April of the year preceding the one in which the Renewal Term would begin. The percent change shall be calculated by subtracting the baseline index from the index announced for the April in the year in which the renewal option is exercised, and dividing the result by the baseline index. The percent change shall be rounded to the nearest one-hundredth of one percent and shall be the maximum price adjustment permitted. Contractor may offer price decreases in excess of the allowable CPI-U percent change at any time. The following example illustrates the computation of percent change using April 2008 as the Baseline: CPI-U for April 2009 213.240 Less CPI-U for April 2008 (baseline) 214.823 Equals index point change -1.583 Divided by previous period (baseline) CPI-U 214.823 Equals -0.0074 Results multiplied by 100 -0.0074 x 100 Equals percent change -0.74
ECONOMIC PRICE ADJUSTMENTS. Beginning upon completion of the Initial Term of the Agreement, Contractor’s Adjustment Factors shall be adjusted on each subsequent annual anniversary date of the Agreement to account for construction cost escalation or de-escalation according to the following: A Base Year Index shall be calculated by averaging the 12 month Construction Cost Indices (CCI) for the appropriate area (see below) published in the Engineering News Record (“ENR”) for the 12 months immediately prior to the month of the Agreement Effective Date. A Current Year Index shall be calculated by averaging the 12 month Construction Cost Indices (CCI) for the appropriate area (see below) published in the ENR for the 12 months immediately prior to the month of the annual Agreement anniversary. The Economic Price Adjustment shall be calculated by dividing the Current Year Index by the Base Year Index. Contractor’s original Adjustment Factors shall be multiplied by the Economic Price Adjustment to obtain Contractor’s new Adjustment Factors effective for the next 12 months. Averages shall be obtained by summing the 12 month indices and dividing by 12. All calculations in this Article shall be carried to the fifth decimal place and rounded to the fourth decimal place. The following rules shall be used for rounding: The fourth decimal place shall be rounded up when the fifth decimal place is five (5) or greater. The fourth decimal place shall remain unchanged when the fifth decimal place is less than five (5). ENR occasionally revises indices following their issuance. CCI’s used in the calculations described above shall be those currently published at the time the Economic Price Adjustment calculation is performed. No retroactive adjustments shall be made as a result of any ENR revision to its published indices. The economic price adjustment changes provided for above shall apply to both Primary and Alternate JOC Zones. For zones 1-9, the San Francisco CCI published in ENR shall be utilized as the basis for the adjustment. For zones 10-14, the Los Angeles CCI published in ENR shall be utilized as the basis for the adjustment. The Progen software program will implement the changes to the Adjustment Factors.
ECONOMIC PRICE ADJUSTMENTS. 11 27.1 Beginning upon completion of the initial term of the Agreement, the Firm Fixed Price shall be adjusted on each anniversary of the Effective Date to account for construction cost escalation or de-escalation. The adjustments will be made according to the following: 11 27.1.1 A Base Year Index shall be calculated by averaging the 12 month Construction Cost Indices (CCI) for the appropriate area (see below) published in the Engineering News Record (“ENR”) for the 12 months immediately prior to the month of the Effective Date.
ECONOMIC PRICE ADJUSTMENTS. The City acknowledges that prices may fluctuate from time to time. Accordingly an escalator/de-escalator clause will be accepted only under the following conditions:
ECONOMIC PRICE ADJUSTMENTS. The Economic Price Adjustments for the Aircraft Basic Price will be made pursuant to the formulas set forth in Exhibit D-1 of the Purchase Agreement.
ECONOMIC PRICE ADJUSTMENTS. Contract mileage price adjustments applicable to each contract renewal period will be based on increases or decreases in the annual average percent changes to the Transportation Index found in Table 1 - Consumer Price Index for All Urban Consumers (CPI-U).
(a) The Mileage price will be adjusted as follows: 100% of the current mileage price multiplied by the annual average percent change for the previous 12 months in the CPI-U for the Transportation index. For example: If the annual average percent change for the previous 12 months to CPI-U Transportation index = 4.2% with a current mileage rate of $5.00. ($5.00) x 0.042 = $0.21 New adjusted rate: $5.00 + $0.21 = $5.21 In the event that a substantial revision to the method of calculating an index is used by the Bureau of Labor Statistics, U.S. Department of Labor, or the index is discontinued, the Contracting Officer will select a comparable index prepared by the Bureau of Labor Statistics, U.S. Department of Labor, prepared at the request of the Contracting Officer. The newly adjusted prices will become effective on January 1 of the calendar year in which the contract renewal is effective. The 12 month annual average percent change will begin with the October index of the previous calendar year and end with the September index of the calendar year immediately prior to the year in which the renewal is effective. For example, a price adjustment for calendar year 2017 would be based on the monthly percent changes beginning with October 2015 report and continue until the September 2016 report. The average of all 12 previously reported monthly percent changes for the 12 months ending in September will be computed.
ECONOMIC PRICE ADJUSTMENTS. Contract mileage price adjustments applicable to each contract renewal period will be based on increases or decreases in the annual average percent changes to the Transportation Index found in Table 1 - Consumer Price Index for All Urban Consumers (CPI-U).
(a) The Mileage price will be adjusted as follows: 100% of the current mileage price multiplied by the annual average percent change for the previous 12 months in the CPI-U for the Transportation index. For example: If the annual average percent change for the previous 12 months to CPI-U Transportation index = 4.2% with a current mileage rate of $5.00. In the event that a substantial revision to the method of calculating an index is used by the Bureau of Labor Statistics, U.S. Department of Labor, or the index is discontinued, the Contracting Officer will select a comparable index prepared by the Bureau of Labor Statistics, U.S. Department of Labor, prepared at the request of the Contracting Officer. The newly adjusted prices will become effective on January 1 of the calendar year in which the contract renewal is effective. The 12 month annual average percent change will begin with the October index of the previous calendar year and end with the September index of the calendar year immediately prior to the year in which the renewal is effective. For example, a price adjustment for calendar year 2007 would be based on the monthly percent changes beginning with October 2005 report and continue until the September 2006 report. The average of all 12 previously reported monthly percent changes for the 12 months ending in September will be computed.
ECONOMIC PRICE ADJUSTMENTS. 2.12.1 Beginning upon completion of the Initial Term of the Agreement, Contractor’s Adjustment Factors shall be adjusted on each subsequent annual anniversary date of the Agreement to account for construction cost escalation or de-escalation according to the following: .a A Base Year Index shall be calculated by averaging the Construction Cost Indices (CCI) for the appropriate area (see below) published in the Engineering News Record (“ENR”) for the 24 months immediately prior to the month of the Agreement Effective Date. .b A Current Year Index shall be calculated by averaging the 2 years Construction Cost Indices (CCI) for the appropriate area (see below) published in the ENR for the 24 months immediately prior to the month of the annual Agreement anniversary.
ECONOMIC PRICE ADJUSTMENTS. 23 No Economic Price Adjustment (EPA) shall be applied to any of the price items or 1 ARTICLE 26. FINAL COMPLETION AND FINAL PAYMENT
2 A. Before applying for final payment, the CONTRACTOR shall complete all work, and shall 3 correct any deficiencies in the work and any work rejected by the AUTHORITY.
4 B. Upon receipt of the CONTRACTOR's notice that all deliverables due under the Contract
ECONOMIC PRICE ADJUSTMENTS. Contract mileage price adjustments applicable to each contract renewal period will be based on increases or decreases in the 12-month cumulative monthly percent changes to the Transportation Index found in Table 1 - Consumer Price Index for All Urban Consumers (CPI-U).
