Common use of Modification of Prices Clause in Contracts

Modification of Prices. 7.2.1. Prices are fixed and invariable. Any price changes may be made only if provided for in the Contract or required by applicable law. In this last case, it must be demonstrated that: (i) it is due to a change in the Legal Order or a substantial change in the working conditions, that have occurred after the signature of the Contract, generating an unjust enrichment on one of the Parties, (ii) the change produces excessive heavy charges on the agreed service and its compliance is ruinous, (iii) this situation was not foreseeable at the moment of the signature of the Contract, even by an experienced SUPPLIER. Changes in the tax or social security legislation will not be justifications to apply this clause and, consequently, will not allow price modifications. (15) working day period, a review of the terms of the Contract, for which it shall demonstrate in written the conditions referred to in the preceding paragraph. In the event that the other Party considers that the Price must not be readjusted, it shall inform this situation and the Contract shall continue to apply without notice to this request, but the Party which deems itself to have been wronged may initiate the process for solving discrepancies according to the Contract.

Modification of Prices. 7.2.1. Prices are fixed and invariable. Any price changes may be made only if provided for in the Contract or required by applicable law. In this last case, it must be demonstrated that: (i) it is due to a change in the Legal Order or a substantial change in the working conditions, that have occurred after the signature of the Contract, generating an unjust enrichment on one of the Parties, (ii) the change produces excessive heavy charges on the agreed service and its compliance is ruinous, (iii) this situation was not foreseeable at the moment of the signature of the Contract, even by an experienced SUPPLIERContractor. Changes in the tax or social security legislation will not be justifications to apply this clause and, consequently, will not allow price modifications. The Party which deems itself to have been wronged may request the other Party, in a fifteen (15) working day period, a review of the terms of the Contract, for which it shall demonstrate in written the conditions referred to in the preceding paragraph. In the event that the other Party considers that the Price must not be readjusted, it shall inform this situation and the Contract shall continue to apply without notice to this request, but the Party which deems itself to have been wronged may initiate the process for solving discrepancies according to the Contract.