Common use of PRICE REVISION Clause in Contracts

PRICE REVISION. Upon the Contracting Officer's receipt of the data required by paragraph (c) above, the Contracting Officer and the Contractor shall promptly establish the total final price of the items specified in (a) above by applying to final negotiated cost an adjustment for profit or loss, as follows: (1) On the basis of the information required by paragraph (c) above, together with any other pertinent information, the parties shall negotiate the total final cost incurred or to be incurred for supplies delivered (or services performed) and accepted by the Government and which are subject to price revision under this clause. (2) The total final price shall be established by applying to the total final negotiated cost an adjustment for profit or loss, as follows: (i) If the total final negotiated cost is equal to the total target cost, the adjustment is the total target profit. (ii) If the total final negotiated cost is greater than the total target cost, the adjustment is the total target profit, less _ Contracting Officer insert percent percent of the amount by which the total final negotiated cost exceeds the total target cost. (iii) If the final negotiated cost is less than the total target cost, the adjustment is the total target profit plus _ Contracting Officer insert percent percent of the amount by which the total final negotiated cost is less than the total target cost.

PRICE REVISION. Upon the Contracting Officer's receipt of the data required by paragraph (c) above, the Contracting Officer and the Contractor shall promptly establish the total final price of the items specified in (a) above by applying to final negotiated cost an adjustment for profit or loss, as follows: (1) On the basis of the information required by paragraph (c) above, together with any other pertinent information, the parties shall negotiate the total final cost incurred or to be incurred for supplies delivered (or services performed) and accepted by the Government and which are subject to price revision under this clause. (2) The total final price shall be established by applying to the total final negotiated cost an adjustment for profit or loss, as follows: (i) If the total final negotiated cost is equal to the total target cost, the adjustment is the total target profit. (ii) If the total final negotiated cost is greater than the total target cost, the adjustment is the total target profit, less _ Contracting Officer insert percent ** percent of the amount by which the total final negotiated cost exceeds the total target cost. (iii) If the final negotiated cost is less than the total target cost, the adjustment is the total target profit plus _ **. [Contracting Officer insert percent percent] percent of the amount by which the total final negotiated cost is less than the total target cost.

PRICE REVISION. Upon the Contracting OfficerCompany's receipt of the data required by paragraph (c) above, the Contracting Officer Company and the Contractor Seller shall promptly establish the total final price of the items specified in (a) above by applying to final negotiated cost an adjustment for profit or loss, as follows: (1) On the basis of the information required by paragraph (c) above, together with any other pertinent information, the parties shall negotiate the total final cost incurred or to be incurred for supplies delivered (or services performed) and accepted by the Government Company and which are subject to price revision under this clause. (2) The total final price shall be established by applying to the total final negotiated cost an adjustment for profit or loss, as follows: (i) If the total final negotiated cost is equal to the total target cost, the adjustment is the total target profit. (ii) If the total final negotiated cost is greater than the total target cost, the adjustment is the total target profit, less _ Contracting Officer insert percent percent of the amount by which the total final negotiated cost exceeds the total target cost.less (iii) If the final negotiated cost is less than the total target cost, the adjustment is the total target profit plus _ Contracting Officer insert percent percent of the amount by which the total final negotiated cost is less than the total target cost.plus