Common use of Price Adjustment Clause in Contracts

Price Adjustment. Any adjustment in the contract price pursuant to a provision in this Contract shall be made in one or more of the following ways: (1) By agreement on a fixed price adjustment before commencement of the pertinent performance or as soon thereafter as practicable; (2) By unit prices specified in the Contract or subsequently agreed upon; (3) By the costs attributable to the event or situation covered by the provision, plus appropriate profit or fee, all as specified in the Contract or subsequently agreed upon; (4) In such other manner as the parties may mutually agree; or (5) In the absence of agreement between the parties, by a unilateral determination by the Agency procurement officer of the costs attributable to the event or situation covered by the provision, plus appropriate profit or fee, all as computed by the Agency procurement officer in accordance with generally accepted accounting principles and applicable sections of chapters 3-123 and 3-126, HAR.

Price Adjustment. Any adjustment in the contract price pursuant to a provision in this Contract shall be made in one or more of the following ways: (1) By agreement on a fixed price adjustment before commencement of the pertinent performance or as soon thereafter as practicable; (2) By unit prices specified in the Contract or subsequently agreed upon; (3) By the costs attributable to the event or situation covered by the provision, plus appropriate profit or fee, all as specified in the Contract or subsequently agreed upon; (4) In such other manner as the parties may mutually agree; or (5) In the absence of agreement between the parties, by a unilateral determination by the Agency procurement officer of the costs attributable to the event or situation covered by the provision, plus appropriate profit or fee, all as computed by the Agency procurement officer in accordance with generally accepted accounting principles and applicable sections of chapters 3-123 and 3-3- 126, HAR.