Common use of Price Increase/Decrease Clause in Contracts

Price Increase/Decrease. No price increases will be permitted during the term of the Contract. County requires documented proof of cost increases on contracts prior to any price adjustment. A minimum of thirty (30) days advance notice in writing is required to secure such adjustment. No retroactive price adjustments will be considered. All price decreases will automatically be extended to the County of Orange. County may enforce, 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 Contractor’s profit will not be allowed. Further, the Contract price shall not be increased due to California Senate Xxxx No. 3’s (minimum wage phase in requirement 2017-2023) annual mandated minimum wage increases.

Price Increase/Decrease. No price increases will be permitted during the term of the Contract. County requires documented proof of cost increases on contracts prior to any price adjustment. A minimum of thirty (30) days advance notice in writing is required to secure such adjustment. No retroactive price adjustments will be considered. All price decreases will automatically be extended to the County of Orange. County may enforce, 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 Contractor’s profit will not be allowed. Further, the Contract price shall not be increased due to California Senate Xxxx Bill No. 3’s (minimum wage phase in requirement 2017-2023) annual mandated minimum wage increases.