Common use of Price Variation and Review Clause in Contracts

Price Variation and Review. All prices under this Contract shall remain fixed for Contract term. Thereafter, prices may be subject to price variation. Any variation in the Contract price must be requested in writing a minimum of three months prior to the anniversary date of the Agreement. Either party may request a price variation. The Contractor will be required to provide the Authority with satisfactory evidence of increased costs which it has incurred or will incur and which are beyond its reasonable control in order to substantiate any request for a price increase. The Authority shall not consider any request for a price increase that exceeds the percentage increase in the Consumer Price Index (CPI) for the twelve-month period immediately preceding the request for the price review. The Authority reserves the right to accept or reject any such request, at its sole discretion.

Price Variation and Review. All prices under this Contract shall remain fixed for the Contract term. Thereafter, prices may be subject to price variation. Any variation in the Contract price must be requested in writing a minimum of three months prior to the anniversary date of the Agreement. Either party may request a price variation. The Contractor will be required to provide the Authority with satisfactory evidence of increased costs which it has incurred or will incur and which are beyond its reasonable control in order to substantiate any request for a price increase. The Authority shall not consider any request for a price increase that exceeds the percentage increase in the Consumer Price Index (CPI) for the twelve-month period immediately preceding the request for the price review. The Authority reserves the right to accept or reject any such request, at its sole discretion.

Price Variation and Review. All prices under this Contract shall remain fixed for the Initial Contract termPeriod. Thereafter, prices may be subject to price variation. Any variation in the Contract price must be requested in writing a minimum of three months prior to the anniversary date of the Agreement. Either party may request a price variation. The Contractor will be required to provide the Authority with satisfactory evidence of increased costs which it has incurred or will incur and which are beyond its reasonable control in order to substantiate any request for a price increase. The Authority shall not consider any request for a price increase that exceeds the percentage increase in the Consumer Price Index (CPI) for the twelve-month period immediately preceding the request for the price review. The Authority reserves the right to accept or reject any such request, at its sole discretion.