Purchase Price Variance Reports Sample Clauses
The Purchase Price Variance Reports clause requires the regular preparation and delivery of reports detailing the differences between the actual prices paid for goods or services and their standard or expected costs. These reports typically include itemized breakdowns, reasons for variances, and may be submitted on a monthly or quarterly basis to relevant stakeholders. The core function of this clause is to provide transparency and accountability in procurement, enabling organizations to monitor cost control, identify pricing issues, and make informed decisions to manage budgets effectively.
Purchase Price Variance Reports. BUYER shall not be responsible for increases in materials and Component prices of [***], except for BUYER Controlled Components. Unless SUPPLIER receives prior written approval, Buyer will not be liable for increases in materials and Component prices of [***]. thus generating a Purchase Price Variance (“PPV”). For materials or Component price increases [***], SUPPLIER must notify BUYER and submit a PPV Variance Form, in the form set forth on Exhibit G, within three (3) Business Days after SUPPLIER discovers a potential Component price increase. BUYER Confidential treatment is being requested for portions of this document. This copy of the document filed as an exhibit omits the confidential information subject to the confidentiality request. Omissions are designated by the symbol [***]. A complete version of this document has been filed separately with the Securities and Exchange Commission.
Purchase Price Variance Reports. BUYER shall not be responsible for increases in materials and Component prices of [***]. Unless SUPPLIER receives prior written approval, BUYER will not be liable for increases in materials and Component [***], thus generating a Purchase Price Variance (“PPV”). For materials or Component price increases of [***], SUPPLIER must notify BUYER and submit a PPV Variance Form, in the form set forth on Exhibit G, within one (1) Business Day after SUPPLIER discovers a potential Component price increase. BUYER may either accept or reject the price increase within one (1) Business Day. BUYER will pay amounts to SUPPLIER for pre-approved items listed in the PPV Form, based on when the materials or Components were received. Such payments shall only be made for materials or Components purchased by SUPPLIER within the parameters set forth in the Build Plan, including MOQ, and only from vendors on the AVL.