PRICE FLUCTUATION DURING CONTRACT. Unless otherwise agreed to in writing by the State, all prices quoted shall be firm through issuance of contract or purchase order and shall not be subject to increase during the period of the contract. In the event of a manufacturer's or contractor's price decrease during the contract period, the State shall receive the full benefit of such price reduction on any undelivered purchase order and on any subsequent order placed during the contract period. The Director must be notified, in writing, of any price reduction within five (5) days of the effective date. Failure to report price reductions may result in cancellation of contract for cause, pursuant to provision 5.7(b)1. In an exceptional situation the State may consider a price adjustment. Requests for price adjustments must include justification and documentation.
Appears in 9 contracts
Samples: Contract Agreement, Scientific Products Agreement, Program Management Services Agreement
