Common use of Adjustment of Payments Clause in Contracts

Adjustment of Payments. Upon application from the Contractor this remuneration agreement may be adjusted as set out in this Clause for the duration of the Contract unless by mutual agreement some alternate formula is adopted. The first adjustment may be made twelve (12) months from the date of commencement of Contract with each successive adjustment to be effected annually thereafter upon request. Adjustments based on CPI movements shall be based on ‘All Groups Weighted Average of Eight Capital Cities’ as published by the Australian Bureau of Statistics for the four quarters immediately preceding the anniversary of the Contract.