Common use of Rate Increases Clause in Contracts

Rate Increases. Prior to each contract anniversary date thereafter, the Vendor may submit a price increase request, but in no case more frequently than once per year. The Vendor is to demonstrate: ▪ Increases are within the changes to the CPI Index for Riverside County; ▪ Clearly identify the items and/or job titles impacted by the increase; ▪ Provide documentation acceptable to the City to warrant the increase; ▪ And agree that contract prices shall remain firm for a minimum of 365 days after affecting the requested increase. The request shall be considered and may be accepted or rejected. Failure to submit a price request at least 45-days prior to the contract anniversary date, shall result in a continuation of all existing pricing on the contract until the next contract anniversary date. The decision to accept any price increase will be at the sole discretion of the City.

Rate Increases. Prior to each contract anniversary date thereafter, the Vendor may submit a price increase request, but in no case more frequently than once per year. The Vendor is to demonstrate: ▪ Increases  That wage and benefit increases are within the changes to the CPI Index for Riverside CountyCounty or other pricing index appropriate to the particular service herein; ▪  Clearly identify the items and/or job titles impacted by the increase; ▪  Provide documentation acceptable to the City to warrant the increase; ▪  And agree that contract prices shall remain firm for a minimum of 365 days after affecting the requested increase. The request shall be considered and may be accepted or rejected. Failure to submit a price request at least 45-days prior to the contract anniversary date, shall result in a continuation of all existing pricing on the contract until the next contract anniversary date. The decision to accept any price increase will be at the sole discretion of the City.