Common use of REVIEW OF THE FRAMEWORK PRICES Clause in Contracts

REVIEW OF THE FRAMEWORK PRICES. Subject to paragraphs 3.1.1 and 3.1.2 the Framework Prices will remain fixed for two (2) Years from the Commencement Date. The Supplier may request a variation in the Framework Prices in accordance with the remaining provisions of this paragraph 4 subject always to: the Supplier’s request being submitted to the Authority in writing at least three (3) Months before the intended effective date for the proposed variation (the “Indexation Adjustment Date”); and the written agreement of the Authority The earliest Indexation Adjustment Date for any increase in the Framework Prices in accordance with this paragraph 4 will be the first (1st) Working Day following the second (2nd) anniversary of the Commencement Date. Thereafter any subsequent increase to any of the Framework Prices in accordance with this paragraph 4 shall not occur before the anniversary of the previous Indexation Adjustment Date. To make a request for a variation of some or all of the Framework Prices in accordance with this paragraph 4, the Supplier shall provide the Authority with: a list of the Framework Prices it wishes to review; for each of the Framework Prices under review, written evidence of the justification for the requested increase including: a breakdown of the profit and cost components that comprise the relevant Framework Price; details of the movement in the different identified cost components of the relevant Framework Price; reasons for the movement in the different identified cost components of the relevant Framework Price; and evidence that the Supplier has attempted to mitigate against the increase in the relevant cost components.