Price Increase Clause
Each of these template Clauses is designed to provide flexibility in pricing by allowing a supplier of goods, materials or services to adjust prices periodically.
Each part of this template provides a self-contained Clause, and you should choose whichever Clause best suits your needs. Each one provides a different approach to formulating and limiting a price increase. As will be apparent, some of the options link price changes to the Retail or Consumer Prices Index.
Whichever Clause you choose to use, it can be used as part of a supply agreement which runs for a fixed period of more than one year (typically two or more years) although it could be adapted for use as part of either a supply arrangement with a term shorter than a year, or a supply agreement which runs for an indefinite period but which can be terminated by the supplier after a stated minimum period, e.g. after one year.
The text of the particular clause that you propose to use should be carefully read and selected to ensure that it will meet your requirements. Unused options should be removed from the document. Optional text in each of the alternative clauses is enclosed in square brackets.
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