OPTION PRICING. Prices for years 3 and 4 shall be negotiated between the Authority and the Contractor. Prices shall remain firm for a minimum period of 12 months. The Contractor shall submit for the Authority’s consideration his proposed prices for the following year at least 3 months prior to the expiry date of the current price list. In the event that the Contractor does not submit his proposed prices at least 3 months prior to the expiry date of the current price list, the Contractor shall extend the validity of the current price list for an additional period equivalent to the period of delay.
Appears in 3 contracts
Sources: Supply Agreement, Supply Agreement, Supply Agreement