Common use of Basis of Consideration Clause in Contracts

Basis of Consideration. The steam supply price was determined by arm’s length negotiations between the parties with reference to the price prescribed by the Yangzhou Price Bureau. The Yangzhou Price Bureau publishes the reference price for steam to the industry from time to time. The latest reference steam price was published by the Yangzhou Price Bureau on 13 December 2017, stating that the price of steam should not be higher than RMB215 per tonne.