Common use of Price Increase/Decrease Clause in Contracts

Price Increase/Decrease. No price increases will be permitted during the first year of the CONTRACT. The COUNTY requires bona fide proof of cost increases on CONTRACTs prior to any price adjustment. The percentage of any price increase cannot exceed the percentage of increase in the Consumer Price Index for the corresponding time period. On an annual basis or when deemed necessary due to changes in the cost of transportation, the COUNTY will evaluate the Bureau of Labor Statistics Los Angeles-Riverside-Orange County Private Transportation Consumer Price Index (CPI) to determine if a cost increase is necessary and warranted. No retroactive price adjustments will be considered. The COUNTY may enforce, adjust, negotiate, or cancel escalating price CONTRACTs or take any other action it deems appropriate, as it sees fit. The net dollar amount of profit will remain firm during the period of the CONTRACT. Adjustments increasing the CONTRACTOR’s profit will not be allowed. Certification of Agreements Date: March 20, 2018 To: Clerk of the Board of Supervisors From: OCCR/OC Community Services (OCCS)/Office on Aging Re: ASR Control #: 18-000134, Meeting Date 6/26/18Agenda Item No. # 64 I certify that the attached fully executed complete agreement (and all exhibits and/or attachments referenced within the agreement) is an exact iteration of the agreement(s) presented to and approved by the Board of Supervisors on the above listed meeting date. I further certify that I have been authorized to execute said agreement(s) and have personally executed same. Xxxxx Xxxxxxx Director, OCCS Name Title Signature 6/26/2018