Application of Formula Price Clause Samples

The 'Application of Formula Price' clause defines how a price is determined using a specific formula rather than a fixed amount. In practice, this clause outlines the variables, indices, or market references that will be used to calculate the final price of goods or services, such as tying the price to commodity market rates or inflation indices. Its core function is to provide a transparent and adaptable pricing mechanism that reflects market fluctuations, thereby ensuring fairness and reducing disputes over price adjustments during the contract term.
Application of Formula Price. The provisions of Sections 5.1 and 5.2 shall be specifically implemented as provided in this Section 5.3.
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