Common use of Price Adjustments for OGS Centralized Contracts Clause in Contracts

Price Adjustments for OGS Centralized Contracts. Pricing offered with the Vendor Submission shall be fixed for the first twelve (12) months of the Contract term. Commencing with the first anniversary date of the Contract Execution Date, and annually thereafter, the Contractor may update the pricelist to reflect Contractor price changes. Such price increases will only apply to the OGS Centralized Contracts and shall not be applied retroactively to Authorized User Agreements or any Mini-bids already submitted to an Authorized User. Requests for price adjustments shall be submitted 30 days prior to the anniversary date of the Contract Execution Date and annually thereafter. Should the Contractor fail to make a request and submit supporting documentation to OGS Procurement Services within 90 days after the applicable anniversary date of the Contract Execution Date, the Contractor shall be deemed to have waived its right to any increase in price for that year. Requests from Contractor(s) for price increases at any other time will not be granted. The Contractor shall provide OGS with one electronic copy of the updated pricing. No Price updates will be granted to any Contractor who has outstanding Sales Reports, Proof of Insurance or any other documentation that is required under the Contract.