Option Years Pricing Clause Samples
The Option Years Pricing clause establishes the terms and conditions for pricing goods or services during additional contract periods beyond the initial term. Typically, this clause outlines how prices will be set or adjusted if the buyer chooses to extend the contract into one or more option years, often specifying fixed rates, escalation formulas, or referencing market indices. Its core practical function is to provide predictability and transparency in future pricing, thereby reducing uncertainty and facilitating smoother contract extensions for both parties.
Option Years Pricing. In the event the Department exercises its option to extend the term of the Agreement to cover the Option Period(s), the fixed, fully loaded hourly rates applicable to such Option Year(s) are set forth in the Bid Form Attachment D.
Option Years Pricing. In the event the Department exercises its option to extend the Agreement to cover an option year, the rates applicable to such Option Year are set forth in Exhibit E.