Price variation.Β For each Relevant Year commencing on and from 1 April 2019, the Indexed Figures shall be adjusted in accordance with paragraph 2.7.2.
Price variation.Β Price variation due to any cause whatsoever for any material viz., steel, bolts, and nuts, red lead, electrodes, etc., Will not be allowed and the tenderer should include all these factors, while quoting a firm rate.
Price variation.Β [Not used].
Price variation.Β 2.7.1 For each Relevant Year commencing on and from 1 April 2019, the Indexed Figures shall be adjusted in accordance with paragraph 2.7.22.7.2.
(a) For the Relevant Year commencing on and from 1 April 2019, the Indexed Figures shall be adjusted as at 1 April 2019 by multiplying them by the Initial Indexation Factor.
(b) For the Relevant Year commencing on and from 1 April 2020, and for each subsequent Relevant Year, the adjusted Indexed Figures from the preceding Relevant Year shall be further adjusted as at the applicable 1 April by multiplying them by the Adjustment Factor for the Relevant Year in question (rounded to three decimal places). For the purposes of this paragraph 2.7.22.7.2(b), the Adjustment Factor in respect of a Relevant Year shall be calculated in accordance with the following formula: π΄πππ’π π‘ππππ‘ πΉπππ‘ππ = 1 + (πΆππΌπ‘β1βπΆππΌπ‘β2) πΆππΌοΏ½οΏ½β2 where: CPIt-1 means the average value of the monthly CPI figures for the 12 months up to and including the month of December immediately preceding 1 April in the Relevant Year in question; and CPIt-2 means the average value of the monthly CPI figures for the 12 months up to and including the month of December which falls 16 months before 1 April in the Relevant Year in question.
(c) If this contract takes effect after 1 April 2019, the Indexed Figures shall be adjusted in accordance with paragraphs 2.7.22.7.2(a) and (b) as if this contract had been in effect on and from 1 April 2019.
2.7.3 The Phased in Charges Indexation Adjustment shall be derived:
(a) in respect of the Relevant Year commencing on 1 April 2019, from the following formula: ππΆπΌπ΄2019 = πΌπππ‘πππ πΌππππ₯ππ‘πππ πΉπππ‘ππ where: PCIA2019 means the Phased in Charges Indexation Adjustment in respect of the Relevant Year commencing on 1 April 2019; and
(b) in respect of any Relevant Year t commencing on or after 1 April 2020, from the following formula: = (1 + (πΆππΌπ‘β1βπΆππΌ2018) πΆππΌ2018 ) β’ πΌπππ‘πππ πΌππππ₯ππ‘πππ πΉπππ‘ππ PCIAt means the Phased in Charges Indexation Adjustment in respect of the Relevant Year t;
Price variation.Β The Company shall be entitled to vary the agreed price for the Goods or Services after acceptance by the Company of the Customerβs order in the following circumstances:-
Price variation.Β The Standard Charges for the Capital Goods, Goods and/or Services may be varied by TRT from time to time.
Price variation.Β Quotations given by the Company in writing remain open for acceptance by the Customer for a period of 30 days but quotations are based on the Companyβs current costs of production and unless agreed are subject to amendment on or at any time after acceptance to meet any rise or fall in such costs. The Companyβs statement that its costs have risen or fallen in such circumstances shall be conclusive as to the existence of such rise or fall. The Company reserves the right at any time to refuse to accept any order placed as a result of any quotation.
Price variation.Β (a) The Supplier must supply each item of the Goods at the Unit Price during the Term.
(b) The Supplier may increase the Unit Price on each anniversary of the Commencement Date in accordance with the process in this clause 6.3 to reflect any increases in costs and other charges reasonably incurred and evidenced by the Supplier.
(c) At least 30 days prior to an anniversary of the Commencement Date, the Supplier must provide the School Council with written notice of its proposed increase in the Unit Prices.
(d) If the School Council notifies the Supplier in writing that it accepts the proposed increase in the Unit Prices notified by the Supplier under clause 6.3(c), the Unit Prices will be varied with effect from the next anniversary of the Commencement Date and the Supplier must promptly provide to the School Council an updated version of Schedule 3 containing a list of all Goods and their respective Unit Prices.
(e) If the School Council, in its reasonable opinion, believes a proposed increase to the Unit Prices as notified by the Supplier under clause 6.3(c) to be excessive, it will notify the Supplier and provide reasons for its refusal.
(f) If the School Council refuses a price variation under clause 6.3(e), the School Council and the Supplier will discuss in good faith the proposed price variation.
(g) If the School Council and the Supplier agree any variation to the Unit Price in accordance with 6.3(f), the School Council will notify the Supplier in writing and the Unit Prices will be varied with effect from 14 days after the Supplier's receipt of such notice. The Supplier must promptly provide to the School Council an updated version of Schedule 3 containing a list of all Goods and their respective Unit Prices.
Price variation.Β The price is subject to variation on account of variation in wages and material. The escalation/ de-escalation shall be determined as per Annexure-A. The base month for the purpose of escalation/ de-escalation is indicated therein. The verification of escalation claims will be done by the Paying Authority on the basis of published indices. Paying Authority will send a copy of verified claims to Railway Board.
4.1 Manner of submission of escalation/ de-escalation claims. The contractor shall submit the escalation/ de-escalation claims to the Paying Authority by the end of the month following the month in which material were offered for inspection. In the event of contingencies like delay in receipt of price indices etc. the paying authority may at his discretion allow upto maximum one month additionally for submission of escalation/ de-escalation claims. In the event of contractorβs failure to submit escalation/ de-escalation claims in the manner as aforesaid, the Paying Authority shall be at liberty to stop further payment till submission of all escalation/ de-escalation claims as per schedule.
Price variation.Β The quoted price should remain firm and fixed till the completion of supplies. Only variation on account of changes in Taxes & Duties by the Government will be considered. No escalation/ variation on any other grounds whatsoever shall be considered or be admissible:
a) Escalation on Government Taxes & Duties: The tenderer will indicate in his offer the applicable Taxes & Royalty at the time of opening of Part-I offer. In the event of any increase/decrease in the Taxes & royalty by the Government, the difference of the same shall be passed on to the Contractor/RSMML as the case may be. The subsequent increase/decrease shall be payable only on the production of authentic documentary proof by the tenderer.
b) Save and except as aforesaid, the tenderer shall not be entitled to raise any claim and/or demand and/or any dispute on account of escalation or raise or increase in the prices of any other item or element whether in respect of electrical charges, high speed diesel, oil, lubricants, tyres, tubes, spares, wages or minimum wages of workmen either statutory or contractual under any settlement or award or otherwise or on any other ground/or reason whatsoever.
