Escalation/De-escalation Clause. In the event that prevailing market conditions warrant an adjustment in bid prices contained in the contract, the following escalation/de- escalation clause shall be the only clause applicable or acceptable: 1. Contractor shall give written notice to the Purchasing Agent of any proposed changes from contract prices not less than thirty (30) calendar days prior to the effective date of said price changes. 2. Such notice must be accompanied by a certified copy of the supplier's advisory or notification to the contractor of price changes. 3. No price escalation will be authorized in excess of the amount of the increase referred to on the supplier's notice.
Appears in 42 contracts
Samples: Contract for Supply of Goods, Annual Supply Contract, Service Agreement
