Indexation. The pricing elements set out in this Schedule 3 (Payment Mechanism) may where indicated be subject to indexation on the Indexation Review Date in accordance with this paragraph 1.3 and Schedule 1. The first Indexation Review Date will be on the anniversary of the Services Commencement Date with a subsequent Indexation Review Date annually thereafter. The Contractor shall provide clear documentary evidence of any price increases that it incurs. Staff Costs and Non-Staff Costs shall be indexed in accordance with the following indices: Staff Costs : AWE-KAC3 : Average Weekly Earnings Index, Services, seasonally adjusted, total pay; Non-Staff Costs : CPI : Consumer Price Index. These indices shall be applied to Price Components according to the Staff Indexation Percentage or the Non-Staff Indexation Percentage as set out in Schedule 1. 2. Payment mechanism The payment mechanism specifies how the Authority will pay for the services that are provided at the price agreed in the pricing mechanism. The payment mechanism will be split into 3 modules and are described in the sections below: i) Basic payment mechanism ii) Payment based on availability of places iii) Payment based on performance The timeframes for invoicing and payment and when each module is applied is described in Section 3 below.
Appears in 8 contracts
Samples: Contract for the Provision of Secure Accommodation Places at Secure Children’s Homes, Contract for the Provision of Secure Accommodation Places at Secure Children’s Homes, Contract for the Provision of Secure Accommodation Places at Secure Children’s Homes
