Common use of Price Updates Clause in Contracts

Price Updates. Contractor may update its price list as follows: 1. OGS reserves the right to change the processes set forth in this section. This may include but is not limited to an electronic submission system. 2. Commencing six (6) months after the initial Contract Award, the Contractor may request to update its price list to reflect Contractor price changes and the addition/deletion of Products. 3. Contractor requests for price list updates may be submitted a maximum of twice per calendar year. The Contractor shall provide OGS with one electronic copy of the requested updated price list. 4. A Contractor may not submit a price list update while the Contractor has a previously submitted price list update that remains under review. 5. Price list updates may not be granted to Contractor if it has outstanding sales reports, proof of insurance or any other documentation that is required under this Contract. 6. OGS reserves the right to reject a Contractor’s request for a price list update if the contractor does not cure outstanding issues within the timeframe specified by XXX’s correspondence of said issues. If the contractor fails to cure the issue within the specified timeframe, OGS shall reject the request and the Contractor’s submission shall be forfeited. An example of a timeline where the Contractor’s submission shall be rejected and the submission forfeited is as follows: a. OGS Conducts the preliminary review and advises the Contractor of issues that need to be cured. Within OGS’s notification of the errors found OGS shall advise Contractor they have fourteen (14) calendar days to respond and cure the issues. b. If after those fourteen (14) calendar days the Contractor does not cure the issues OGS shall remind the Contractor there are issues that need to be cured and shall further advise the Contractor they have seven (7) calendar days to cure the issues. c. If after those seven (7) calendar days the Contractor does not cure the issues OGS shall remind the Contractor there are issues that need to be cured, shall advise the Contractor they have seven (7) calendar days to cure the issues and shall further advise the Contractor that if the outstanding issues are not cured within seven (7) calendar days the price list update request will be rejected and the Contractor will forfeit their opportunity for one of their price list submissions for that calendar year. 7. OGS reserves the right to request price list updates in addition to the twice-yearly request limit imposed above. 8. OGS reserves the right to disallow for price list updates within the six (6) months prior to the end of the Contract Term. 9. Contractors shall be permitted to reduce their pricing any time during the contract term without prior approval from OGS. 10. All Minimum NYS Category Discount percentages shall either remain firm (unchanged) or they may increase for the duration of the Contract. 11. The Total Discount percentage offered on any new Products added to price lists shall be no lower than the established Minimum NYS Category Discount percentage for the Product Category the individual Product is in. 12. Contractors shall submit their updated price list to the OGS Procurement Services contract administrator pursuant to the requirements of this section for review and written approval prior to issuing to Authorized Users or posting to the Contractor’s dedicated NYS website. 13. The State reserves the right to request copies of existing contracts or price lists to ensure that the prices offered to the State are reasonable and commensurate with similar purchasers. 14. In the event a Contractor requests to remove a Category from their price list then later requests to add the same Category to their price list the Contractor must offer an equal or better Minimum NYS Category Discount percentage than what they offered the previous time they requested to offer said Category. 15. When re-adding a preexisting Product Category Contractor may submit the previously approved price list for said Product Category for consideration as proof of ROP. 16. All approved price list updates shall apply prospectively upon approval by OGS. 17. Within fourteen (14) calendar days following the approval of a proposed price list, Contractors and Resellers who elect to have an eMarketplace presence shall update the price list on said eMarketplace (as defined below in Section 3.17- NYS Financial System (SFS)). 18. OGS reserves the right to remove any item(s) it deems outside the scope of the Award. Likewise, OGS reserves the right to require that the Contractor move any item(s) to the correct category within the Contractor’s pricelist. If the Contractor is not approved to sell products in that category then the item will be removed by OGS. 19. OGS reserves the right to require clarification at any time and/or require correction of arithmetic or other apparent errors for the purpose of assuring a full and complete understanding of a Contractor’s update and/or to determine a Contractor’s compliance with the requirements of the Contract; 20. To reject any update or portion(s) thereof determined to have been altered/modified from the original format by the Contractor. Such alterations/modifications include but are not limited to any change(s) to document header(s), footer(s) and/or cell(s); unprotecting worksheet(s)/workbook(s); hiding/unhiding cell(s)/column(s)/row(s)/worksheet(s); and locking/unlocking cell(s).;

Price Updates. Contractor may update its price list as follows: 1. OGS reserves the right to change the processes set forth in this section. This may include but is not limited to an electronic submission system. 2. Commencing six (6) months after the initial Contract Award, the Contractor may request to update its price list to reflect Contractor price changes and the addition/deletion of Products. 3. Contractor requests for price list updates may be submitted a maximum of twice per calendar year. The Contractor shall provide OGS with one electronic copy of the requested updated price list. 4. A Contractor may not submit a price list update while the Contractor has a previously submitted price list update that remains under review. 5. Price list updates may not be granted to Contractor if it has outstanding sales reports, proof of insurance or any other documentation that is required under this Contract. 6. OGS reserves the right to reject a Contractor’s request for a price list update if the contractor does not cure outstanding issues within the timeframe specified by XXX’s correspondence of said issues. If the contractor fails to cure the issue within the specified timeframe, OGS shall reject the request and the Contractor’s submission shall be forfeited. An example of a timeline where the Contractor’s submission shall be rejected and the submission forfeited is as follows: a. OGS Conducts the preliminary review and advises the Contractor of issues that need to be cured. Within OGS’s notification of the errors found OGS shall advise Contractor they have fourteen (14) calendar days to respond and cure the issues. b. If after those fourteen (14) calendar days the Contractor does not cure the issues OGS shall remind the Contractor there are issues that need to be cured and shall further advise the Contractor they have seven (7) calendar days to cure the issues. c. If after those seven (7) calendar days the Contractor does not cure the issues OGS shall remind the Contractor there are issues that need to be cured, shall advise the Contractor they have seven (7) calendar days to cure the issues and shall further advise the Contractor that if the outstanding issues are not cured within seven (7) calendar days the price list update request will be rejected and the Contractor will forfeit their opportunity for one of their price list submissions for that calendar year. 7. OGS reserves the right to request price list updates in addition to the twice-yearly request limit imposed above. 8. OGS reserves the right to disallow for price list updates within the six (6) months prior to the end of the Contract Term. 9. Contractors shall be permitted to reduce their pricing any time during the contract term without prior approval from OGS. 10. All Minimum NYS Category Discount percentages shall either remain firm (unchanged) or they may increase for the duration of the Contract. 11. The Total Discount percentage offered on any new Products added to price lists shall be no lower than the established Minimum NYS Category Discount percentage for the Product Category the individual Product is in. 12. Contractors shall submit their updated price list to the OGS Procurement Services contract administrator pursuant to the requirements of this section for review and written approval prior to issuing to Authorized Users or posting to the Contractor’s dedicated NYS website. 13. The State reserves the right to request copies of existing contracts or price lists to ensure that the prices offered to the State are reasonable and commensurate with similar purchasers. 14. In the event a Contractor requests to remove a Category from their price list then later requests to add the same Category to their price list the Contractor must offer an equal or better Minimum NYS Category Discount percentage than what they offered the previous time they requested to offer said Category. 15. When re-adding a preexisting Product Category Contractor may submit the previously approved price list for said Product Category for consideration as proof of ROP. 16. All approved price list updates shall apply prospectively upon approval by OGS. 17. Within fourteen (14) calendar days following the approval of a proposed price list, Contractors and Resellers who elect to have an eMarketplace presence shall update the price list on said eMarketplace (as defined below in Section 3.17- NYS Financial System (SFS)). 18. OGS reserves the right to remove any item(s) it deems outside the scope of the Award. Likewise, OGS reserves the right to require that the Contractor move any item(s) to the correct category within the Contractor’s pricelist. If the Contractor is not approved to sell products in that category then the item will be removed by OGS. 19. OGS reserves the right to require clarification at any time and/or require correction of arithmetic or other apparent errors for the purpose of assuring a full and complete understanding of a Contractor’s update and/or to determine a Contractor’s compliance with the requirements of the Contract; 20. To reject any update or portion(s) thereof determined to have been altered/modified from the original format by the Contractor. Such alterations/modifications include but are not limited to any change(s) to document header(s), footer(s) and/or cell(s); unprotecting worksheet(s)/workbook(s); hiding/unhiding cell(s)/column(s)/row(s)/worksheet(s); and locking/unlocking cell(s).;