Common use of Reduction Clause Clause in Contracts

Reduction Clause. In the event of a product cost increase/decrease, an escalation/reduction request will be reviewed by the Requesting Department and the CPO or his/her designee on an individual basis. This measure is not intended to allow any increase in profit margin, only to compensate for an actual cost increase. Effective dates for increase/decrease will not be any sooner than fifteen (15) days from the request is received by the Requesting Department and the CPO or his/her designee. To facilitate prompt consideration, all requests for price increases must include all information below:

Reduction Clause. In the event of a product cost increase/decrease, an escalation/reduction request will be reviewed by the Requesting Department and the CPO or his/her designee on an individual a case by case basis. This measure is not intended to allow any increase in profit margin, only to compensate for an actual cost increase. Effective dates for increase/decrease will not be any sooner than fifteen (15) days from the request is received by the Requesting Department and the CPO or his/her designee. To facilitate prompt consideration, all requests for price increases must include all information below: