PRICE VARIATION CLAUSE Sample Clauses
A Price Variation Clause allows for adjustments to the contract price in response to changes in specified cost factors, such as materials, labor, or market indices, during the contract period. Typically, this clause outlines the conditions under which price changes can be made, the method for calculating adjustments, and any limits or notice requirements. Its core function is to allocate the risk of price fluctuations between the parties, ensuring that neither side is unfairly disadvantaged by unforeseen changes in costs over the course of the contract.
POPULAR SAMPLE Copied 71 times
PRICE VARIATION CLAUSE. Price variation for Labour component: Please note that all rates (Manpower, Material etc.) quoted by the vendor shall remain fixed and valid for a period of one year i.e. initial contract period from the date of commencement of work and no escalation/price increase, whatsoever shall be considered during this period. Accordingly, contractor has to take due care on this account while quoting the rates.
PRICE VARIATION CLAUSE. 25.1. ▇▇▇▇▇ considered for the estimation purpose for the man power other than Team Leader & Manager is based on minimum wages circulated by Extra Ordinary Gazette Of Rajasthan vide No. F5 (6)/ M.W./Labour/2000/Part/6633 notified on 17.03.2016.
PRICE VARIATION CLAUSE. The Price shall remain fixed and firm without any price variation due to any escalation in price for the entire period of the contract and extension.
PRICE VARIATION CLAUSE. It is advisable to include Price Variation Clause in the long term contracts to take care of the increase/decrease in prices of various ingredients which majorly affect the overall price of the service. Buyers are therefore advised to include the Price Variation Clause (PVC) in the bid document through ATC for long term contracts. The additional payment, if any, on account of PVC can be done o ine till such time online functionality is developed on GeM."
PRICE VARIATION CLAUSE. Applicable The rate of wage component in the order price shall be revised at the following formula whenever the minimum wages of labour are amended, as per the minimum wages Act: RR = OR + (NR-OR) x No. of days / month. Where, RR = Rate of minimum wages payable for the period of execution. NR = Rate of minimum wages applicable for the bill period. OR = Ordered rate i.e. minimum wages indicated in the order.
a. Minimum wages for unskilled/semi-skilled person per day are as on 01.04.2021.
b. CMPF as per rule.
c. Increase in minimum wages of workmen as communicated by the Government will be reimbursed by SCCL from time to time including employees’ CMPF.
PRICE VARIATION CLAUSE. Price variation for this work, the labour component shall be compensated for the proportionate increase in minimum wages as notified by Government orders. No other component shall be considered for price escalation.
PRICE VARIATION CLAUSE. Price variation for Labour component: Please note that all rates quoted by the vendor shall remain fixed and valid for a period of one year i.e. initial contract period from the date of commencement of work and no escalation/price increase, whatsoever shall be considered during this period. Accordingly, contractor has to take due care on this account while quoting the rates. The Bank/SBIIMS may consider renewal of contract for similar two terms on the same terms and conditions except minimum wages which shall be considered as per Central Government rates prevailing at material time provided that the service rendered by the vendor are found satisfactory. However, renewal of contract is discretion of the Bank/SBIIMS and the contractor shall have no right to claim for the same.
PRICE VARIATION CLAUSE. The prices shall remain firm during the entire contract period. Since the clause states the prices will remain firm for the entire contract period, keeping in mind the inflation rate trend and Consumer price index (CPI) we request you to consider the revision of rates as per the CPI index from time to time. Minimum Wages revision / VDA shall be consider on Manpower cost only as per Revision of Govt. wages from time to time. For Supervision wages increment factor shal be applicable as per price schedule (to be submitted by the bidders) 12 8.1 Special Conditions of Contract: C Discom shall reserve the right to change the number of Customers in 1 or 2 divisions /Circles (as the case may be) considered in the contract during the period with 1 month notice in advance. Notice period for change in consumers should be revised from one month to three months. Firm as per NIT
PRICE VARIATION CLAUSE. Price variation would not be permitted either in the bid or till the expiry of the rate contract period. Bids having Price variation clause would be rejected.
PRICE VARIATION CLAUSE. In case of any changes in the minimum wages as per the Applicable Laws during the Contract period, Buyer (BHEL) shall pay the Service Provider as per the following PVC formula A1 = WO x ((S+(1-S) x W1/WO)) A1 = PVC payment to the service provider W1= Actual operations cost arrived based on the applicable revised minimum wages for that particular month (Minimum wages published by HR-Dept, of BHEL-HPVP, Visakhapatnam shall be considered) WO= Operations cost arrived based on the minimum wages as on 01.04.2024 Published in the NIT at Annexure-IV S = Service Charge (Fixed)