Standing Quotation Prices Clause Samples
The Standing Quotation Prices clause establishes the ongoing prices at which goods or services will be supplied under an agreement. Typically, it sets out that the supplier will provide a list of current prices, which may be updated periodically, and these prices will apply to all orders placed during the specified period. This clause ensures both parties have a clear and consistent understanding of pricing, reducing the risk of disputes and providing predictability for budgeting and procurement.
Standing Quotation Prices. 4.1 The Standing Quotation for the supply of Goods must be quoted in Hong Kong dollars and such prices shall be at net prices after allowing for all trade and cash discounts and shall include cost of containers, packing, packing materials, delivery F.I.S.
4.2 Unless a Seller clearly stipulates otherwise in its Standing Quotation, the prices quoted in the Standing Quotation must remain valid for the Validity Period. Therefore no request for price increase will be considered. If however a Seller, for commercial reasons, wishes to adjust the prices downward for the remaining of the Validity Period or for a certain period of time during the Validity Period, it may do so. In any such case the basis of the price adjustment must be clearly stipulated and accepted by the Authority in writing. The revised Standing Quotation will then be used for placing Purchase Orders by the Authority or the Hospital. No promotional offer to individual Hospital is allowed.