REVISION OF PRICES Clause Samples
The 'Revision of Prices' clause allows for the adjustment of contract prices in response to specific changes in circumstances, such as fluctuations in the cost of materials, labor, or other inputs. Typically, this clause outlines the conditions under which price changes can be requested, the method for calculating adjustments, and any limitations or notice requirements. Its core practical function is to protect both parties from unforeseen economic changes during the contract period, ensuring fairness and reducing the risk of disputes over cost increases or decreases.
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REVISION OF PRICES. Prices shall be fixed and not subject to revision for the Orders issued during the first year of duration of the Contract. From the beginning of the second year of duration of the Contract, prices may be partially revised [80%] upwards or downwards each year, where such revision is requested by one of the contracting parties by registered letter no later than three months before the anniversary of the date on which it was signed. Orders are issued on the basis of prices in force at the date of their signature. Such prices are not subject to revision. This revision shall be determined by the trend in the harmonised consumer price index [complete1] published for the first time by [the Office for Official Publications of the European Communities in the Eurostat monthly bulletin (Theme 2 - Economy and Finance, Collection Detailed tables, Money, finance and the euro: Statistics)]. Revision shall be calculated in accordance with the following formula: Pr = Po (0,2 + 0,8 Ir ) Io where: Pr = revised price; Po = price in the original tender; Io = index for the month [in which the validity of the tender expires] [of the final date for submission of tenders]; Ir = index for the month [corresponding to the date of receipt of the letter requesting a revision of prices] or [in which the adapted prices take effect].
REVISION OF PRICES. 32.1 This contract does not include price revision.
REVISION OF PRICES. Prices shall be fixed and not subject to revision for the orders issued during the first year of duration of the contract. From the beginning of the second year of duration of the contract, prices may be partially revised upwards or downwards each year, where such revision is requested by one of the contracting parties by registered letter no later than three months before the anniversary of the date on which it was signed. Orders are issued on the basis of prices in force at the date of their signature. Such prices are not subject to revision. This revision shall be determined by the trend in the harmonised consumer price index for the country of origin of the services offered for the month in which the validity of the tender expires, expressed in euro and published for the first time by the Office for Official Publications of the European Communities in the Eurostat monthly bulletin (Theme 2 - Economy and Finance, Collection Detailed tables, Money, finance and the euro: Statistics). Revision shall be calculated in accordance with the following formula: Pr = Po (0,2 + 0,8 Ir ) Io where: Pr = revised price; Po = price in the original tender; Io = consumer price index for the country of origin of the services offered for the month in which the validity of the tender expires; Ir = index for the month corresponding to the date of receipt of the letter requesting a revision of prices.
REVISION OF PRICES. Company may, upon fifteen (15) days prior written notice to Client, change the discount for any or all Products not yet ordered.
REVISION OF PRICES. All fees and direct expenses agreed in “Schedule of Fees and Expenses” annexed to these special conditions, are fixed for the contract period and are not subject to review. They shall, however, be subject to review and adjustment whenever modifications of the extent of services and/or extension of contract period become effective/though no fault of the Engineer. For services to be performed in an extended period, staff fees shall be subject to an annual percentage increase of 4 %.
REVISION OF PRICES. 1. From the beginning of the second year of the contract, prices may be revised upwards or downwards each year on the anniversary of the date on which it was signed, where such revision is requested by one of the parties by registered letter no later than three months before that date.
2. The adjustment shall be determined by the trend in [the consumer price index in the Member State of origin of the services offered/ index Euro 15]1 [or] [index Euro 12]
REVISION OF PRICES. Any or all price changes by the “Company” to the “Master Distributor” for the “Products” may, from time to time be revised upon, with at least 30 days advanced notification of such revision to the “Master Distributor”.
REVISION OF PRICES. 32.1. The contract shall be at fixed prices, which shall not be revised.
REVISION OF PRICES. 1. Prices shall be fixed and not subject to revision for the Orders issued during the first year of duration of the Contract.
2. From the beginning of the second year of duration of the Contract, prices may be partially revised upwards or downwards each year, where such revision is requested by one of the contracting parties by registered letter no later than three months before the anniversary of the date on which it was signed. Orders are issued on the basis of prices in force at the date of their signature. Such prices are not subject to revision.
3. The revision shall be determined by the trend in the harmonised consumer price index for the country of origin of the services offered for the month in which the validity of the tender expires, expressed in Euro and published for the first time by the Office for Official Publications of the European Communities in the Eurostat monthly bulletin (Theme 2 - Economy and Finance, Collection Detailed tables, Money, finance and the euro: Statistics).
4. Revision shall be calculated in accordance with the following formula: Pr = Po (0,2 + 0,8 Ir ) where: Pr = revised price; Po = price in the original tender; Io = index for the month [in which the validity of the tender expires] [of the final date for submission of tenders]; Ir = index for the month [corresponding to the date of receipt of the letter requesting a revision of prices] or [in which the adapted prices take effect].
REVISION OF PRICES. After [one (1) year] from the Commencement Date, all remaining payments may be revised upwards or downwards, once a year, where such revision is requested by one of the Parties by registered letter no later than three (3) months before the anniversary of the Commencement Date.