Common use of Price Increases Clause in Contracts

Price Increases. This section applies to pricing not Benchmarked to GSA Supply Schedule. Additionally, where pricing submitted for Services is not benchmarked to an approved GSA Supply Schedule: a. Price Increase Requests: Commencing with the first anniversary date of the Contract Execution Date, and annually thereafter, the Contractor may request an increase in the pricing contained in Appendix D, Pricing Schedule by submitting an update request based on changes in pricing level as contained in Appendix C, Contract Modification Procedure to the OGS Contract Administrator. (i) CPI Price Increase: The Contractor may request a rate increase based upon fluctuations in the latest available National Consumer Price Index - All Urban Consumers (CPI-U), Not Seasonally Adjusted, U.S. City Average, All Items (Series Id: CUUR0000SA0, CUUS0000SA0); as published by the U.S. Department of Labor, Bureau of Xxxxx Xxxxxxxxxx, Xxxxxxxxxx, X.X. 00000. CPI-U data may be obtained at xxx.xxx.xxx. The Contractor is solely responsible for notifying OGS Procurement Services that the Contractor wishes to receive the CPI rate change to submit a request for the adjusted rate on the applicable Contract Execution anniversary Date; and Contractor shall provide a copy of the index, a completed Appendix C - Contract Modification Procedure and other supporting documentation necessary to support the increase to OGS Procurement Services. Price adjustments using the CPI involve changing the base payment by the percent change in the level of the CPI for the current year compared to the previous year. This is calculated by first determining the index point change between the two periods and then the percent change. The price adjustment shall be calculated as follows: Take the CPI value for the current period and subtract the CPI value for the previous period. The difference is then divided by the previous period CPI value and this result is then multiplied by 100 to equal the percent change which is the price adjustment value. This percentage change shall be applied to the next Contract year, upon notification from OGS Procurement Services. The following example illustrates the computation of percent change: CPI for current period 185.2 Less CPI for previous period 181.7 Equals index point change 3.5 Divided by previous period CPI 181.7 Equals 0.0192 Result multiplied by 100 0.019 x 100 Equals percent change 1.9 The “CPI for current period” shall be the index in effect at the time the Contract pricelist update request is received; “CPI for previous period” shall be the index in effect when the Contract pricelist was last updated. Increases are not cumulative. Price increases are limited to the prior year prices only. With any price increase request, in addition to the requirements contained in Appendix C, the Contractor must certify in writing that the price change for the Product(s) is the same as or better than the pricing in its U.S. Commercial Price List, and that Contractor documents the request to the satisfaction of the State. Should the Contractor not have a U.S. Commercial Price List, it must include a copy of the government contract containing the job titles and rates that are to be adjusted. In no case may the pricing adjustment conflict with the Escalation Cap in section 4.23.2.b.

Price Increases. This section applies to pricing not Benchmarked to GSA Supply Schedule. Additionally, where pricing submitted for Services is not benchmarked to an approved GSA Supply Schedule: a. Price Increase Requests: Commencing with the first anniversary date of the Contract Execution Date, and annually thereafter, the Contractor may request an increase in the pricing contained in Appendix D, Pricing Schedule by submitting an update request based on changes in pricing level as contained in Appendix C, Contract Modification Procedure to the OGS Contract Administrator. (i) CPI Price Increase: The Contractor may request a rate increase based upon fluctuations in the latest available National Consumer Price Index - All Urban Consumers (CPI-U), Not Seasonally Adjusted, U.S. City Average, All Items (Series Id: CUUR0000SA0, CUUS0000SA0); as published by the U.S. Department of Labor, Bureau of Xxxxx Xxxxxxxxxx, Xxxxxxxxxx, X.X. 00000. CPI-U data may be obtained at xxx.xxx.xxx. The Contractor is solely responsible for notifying OGS Procurement Services that the Contractor wishes to receive the CPI rate change to submit a request for the adjusted rate on the applicable Contract Execution anniversary Date; and Contractor shall provide a copy of the index, a completed Appendix C - Contract Modification Procedure and other supporting documentation necessary to support the increase to OGS Procurement Services. Price adjustments using the CPI involve changing the base payment by the percent change in the level of the CPI for the current year compared to the previous year. This is calculated by first determining the index point change between the two periods and then the percent change. The price adjustment shall be calculated as followsfol lows: Take the CPI value for the current period and subtract the CPI value for the previous period. The difference is then divided by the previous period CPI value and this result is then multiplied by 100 to equal the percent change which is the price adjustment value. This percentage change shall be applied to the next Contract year, upon notification from OGS Procurement Services. The following example illustrates the computation of percent change: CPI for current period 185.2 Less CPI for previous period 181.7 Equals index point change 3.5 Divided by previous period CPI 181.7 Equals 0.0192 Result multiplied by 100 0.019 x 100 Equals percent change 1.9 The “CPI for current period” shall be the index in effect at the time the Contract pricelist update request is received; “CPI for previous period” shall be the index in effect when the Contract pricelist was last updated. Increases are not cumulative. Price increases are limited to the prior year prices only. With any price increase request, in addition to the requirements contained in Appendix C, the Contractor must certify in writing that the price change for the Product(s) is the same as or better than the pricing in its U.S. Commercial Price List, and that Contractor documents the request to the satisfaction of the State. Should the Contractor not have a U.S. Commercial Price List, it must include a copy of the government contract containing the job titles and rates that are to be adjusted. In no case may the pricing adjustment conflict with the Escalation Cap in section 4.23.2.b.

Price Increases. This section applies to pricing not Benchmarked to GSA Supply Schedule. Additionally, where pricing submitted for Services is not benchmarked to an approved GSA Supply Schedule: a. Price Increase Requests: Commencing with the first anniversary date of the Contract Execution Date, and annually thereafter, the Contractor may request an increase in the pricing contained in Appendix D, Pricing Schedule by submitting an update request based on changes in pricing level as contained in Appendix C, Contract Modification Procedure to the OGS Contract Administrator. (i) CPI Price Increase: The Contractor may request a rate increase based upon fluctuations in the latest available National Consumer Price Index - All Urban Consumers (CPI-U), Not Seasonally Adjusted, U.S. City Average, All Items (Series Id: CUUR0000SA0, CUUS0000SA0); as published by the U.S. Department of Labor, Bureau of Xxxxx XxxxxxxxxxLabor Statistics, XxxxxxxxxxWashington, X.X. 00000D.C. 20212. CPI-U data may be obtained at xxx.xxx.xxx. The Contractor is solely responsible for notifying OGS Procurement Services that the Contractor wishes to receive the CPI rate change to submit a request for the adjusted rate on the applicable Contract Execution anniversary Date; and Contractor shall provide a copy of the index, a completed Appendix C - Contract Modification Procedure and other supporting documentation necessary to support the increase to OGS Procurement Services. Price adjustments using the CPI involve changing the base payment by the percent change in the level of the CPI for the current year compared to the previous year. This is calculated by first determining the index point change between the two periods and then the percent change. The price adjustment shall be calculated as follows: Take the CPI value for the current period and subtract the CPI value for the previous period. The difference is then divided by the previous period CPI value and this result is then multiplied by 100 to equal the percent change which is the price adjustment value. This percentage change shall be applied to the next Contract year, upon notification from OGS Procurement Services. The following example illustrates the computation of percent change: CPI for current period 185.2 Less CPI for previous period 181.7 Equals index point change 3.5 Divided by previous period CPI 181.7 Equals 0.0192 Result multiplied by 100 0.019 x 100 Equals percent change 1.9 The “CPI for current period” shall be the index in effect at the time the Contract pricelist update request is received; “CPI for previous period” shall be the index in effect when the Contract pricelist was last updated. Increases are not cumulative. Price increases are limited to the prior year prices only. With any price increase request, in addition to the requirements contained in Appendix C, the Contractor must certify in writing that the price change for the Product(s) is the same as or better than the pricing in its U.S. Commercial Price List, and that Contractor documents the request to the satisfaction of the State. Should the Contractor not have a U.S. Commercial Price List, it must include a copy of the government contract containing the job titles and rates that are to be adjusted. In no case may the pricing adjustment conflict with the Escalation Cap in section 4.23.2.b.

Price Increases. This section applies to pricing not Benchmarked to GSA Supply Schedule. Additionally, where pricing submitted for Services is not benchmarked to an approved GSA Supply Schedule: a. Price Increase Requests: Commencing with the first anniversary date of the Contract Execution Date, and annually thereafter, the Contractor may request an increase in the pricing contained in Appendix D, Pricing Schedule by submitting an update request based on changes in pricing level as contained in Appendix C, Contract Modification Procedure to the OGS Contract Administrator. (i) CPI Price Increase: The Contractor may request a rate increase based upon fluctuations in the latest available National Consumer Price Index - All Urban Consumers (CPI-U), Not Seasonally Adjusted, U.S. City Average, All Items (Series Id: CUUR0000SA0, CUUS0000SA0); as published by the U.S. Department of Labor, Bureau of Xxxxx XxxxxxxxxxLabor Statistics, XxxxxxxxxxWashington, X.X. 00000D.C. 20212. CPI-U data may be obtained at xxx.xxx.xxx. The Contractor is solely responsible for notifying OGS Procurement Services that the Contractor wishes to receive the CPI rate change to submit a request for the adjusted rate on the applicable Contract Execution anniversary Date; and Contractor shall provide a copy of the index, a completed Appendix C - Contract Modification Procedure and other supporting documentation necessary to support the increase to OGS Procurement Services. Price adjustments using the CPI involve changing the base payment by the percent change in the level of the CPI for the current year compared to the previous year. This is calculated by first determining the index point change between the two periods and then the percent change. The price adjustment shall be calculated as followsfol lows: Take the CPI value for the current period and subtract the CPI value for the previous period. The difference is then divided by the previous period CPI value and this result is then multiplied by 100 to equal the percent change which is the price adjustment value. This percentage change shall be applied to the next Contract year, upon notification from OGS Procurement Services. The following example illustrates the computation of percent change: CPI for current period 185.2 Less CPI for previous period 181.7 Equals index point change 3.5 Divided by previous period CPI 181.7 Equals 0.0192 Result multiplied by 100 0.019 x 100 Equals percent change 1.9 The “CPI for current period” shall be the index in effect at the time the Contract pricelist update request is received; “CPI for previous period” shall be the index in effect when the Contract pricelist was last updated. Increases are not cumulative. Price increases are limited to the prior year prices only. With any price increase request, in addition to the requirements contained in Appendix C, the Contractor must certify in writing that the price change for the Product(s) is the same as or better than the pricing in its U.S. Commercial Price List, and that Contractor documents the request to the satisfaction of the State. Should the Contractor not have a U.S. Commercial Price List, it must include a copy of the government contract containing the job titles and rates that are to be adjusted. In no case may the pricing adjustment conflict with the Escalation Cap in section 4.23.2.b.