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. 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. 25.1. Xxxxx 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. 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. 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)
PRICE VARIATION CLAUSE. 1. The amounts payable to the contractor, valued at base indices in accordance with the Xxxx of Quantities, shall be adjusted for rises or falls in the indices for labour, materials (excluding cost of base rate materials) and fuel. The Annexure “A” of bid document includes a list of percentages, for each of these components i.e. labour, material and fuel, which shall be used appropriately in the formulae provided hereunder. In addition to this for some selected materials (herein referred to “base rate materials” in these bid/contract documents) such as cement, steel, bitumen, CI/DI pipes etc. the amounts payable to the Contractor shall be adjusted by rises or falls in prices by addition or deduction of the amounts determined by the formulae prescribed hereunder. The list of such base rate materials, as deemed applicable by the Corporation (for the scope of work put to this bid/contract) along with their respective base prices (as on 30 days prior to the stipulated/revised date of submission of the Bids) as also available on the website of the Corporation (http:// xxx.xxxxx.xxxxxxxxxxx.xxx.xx/). The Contractor shall abide by these lists and the contents thereof and no request for revision, inclusion or exclusion to these lists shall either be made by him or the Corporation shall consider such a request, which shall automatically stand summarily rejected. The amount to be added to or deducted from the Payment Certificates (PC) for changes in Cost shall be determined from the following formula. VA = VL + VM+ VF+ ∑VS Where, VA= total Amount (arrived at by algebraic addition) to be added to or deducted from payment certificate (PC). VL= Amount to be added to or deducted from PC for changes in cost due to labour. VM= Amount to be added to or deducted from PC for changes in cost due to all materials (excluding base rate materials). VF = Amount to be added to or deducted from PC for changes in cost due to POL. ∑VS = Amount to be added to or deducted from PC for changes in cost due to base rate materials.
A. Formula for Labour Component: VL = 0.85 x PL x (R- B) x (L1 – Lo) 100 Lo Where, VL = Increase or decrease in the cost of work during the month under consideration due to changes in indices for labour. PL = Percentage of labour component of the work as provided in the Annexure “A”. R = Cost of work done during the period under consideration including the outstanding secured (material) advance, payable along with the payment certificate, arrived at with the rates...
PRICE VARIATION CLAUSE. 2.1.1 Price Variation Clause is applicable for Distribution Transformers Price variation shall be applicable as per PV formulae as below:
PRICE VARIATION CLAUSE. If during the operative period of the Contract as defined in condition (i) below, there shall be any variation in the consumer Price Index (New Series) for Industrial Workers for Mumbai center as per the Labor Gazette published by the Commissioner of Labor, Government of Maharashtra and/or in the wholesale Price Index for all commodities prepared by the Office of Economic Adviser, Ministry of Industry, Government of India, or in the Price of petrol/Oil and lubricants and major construction materials like bitumen, cement, steel, various types of metal pipes etc., then subject to the other conditions mentioned below, price adjustment on account of
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. 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.
