price adjustment clause

1. Prices

1.1 The prices for goods and services shall be listed in the quote.

1.2 Prices will be adjusted in the event of a change in taxes, duties or costs associated with the goods or services under the contract.

2. Payment

2.1 The customer shall pay the prices listed in the quote within 30 days of receipt of the goods or services.

2.2 In the event of any late payment by the customer, the supplier has the right to charge interest on the outstanding balance.

3. Delivery

3.1 The supplier shall deliver the goods or services to the customer at the destination mentioned in the quote.

3.2 The supplier will make all reasonable efforts to deliver the goods and/or services on time, however, delays may occur due to unforeseeable circumstances or causes beyond the suppliers control.

4. Warranty

4.1 The supplier warrants to the customer that all goods or services will be of satisfactory quality and meet the agreed specifications.

4.2 The supplier will financially guarantee any defective goods or services for the duration of the contract.

5. Force Majeure

5.1 In the event that the supplier is unable to fulfill its obligations due to Force Majeure (as defined under the provisions of the contract) then neither party shall be liable for any claims or costs.

6. Adjustments

6.1 The supplier reserves the right to ask for price adjustments in the event of a change in the market conditions outside of the agreement.

6.2 If either party wishes to make any changes to the contract, then both parties must agree to the changes in writing.

7. Termination

7.1 The contract may be terminated by either party at any time, provided that not less than thirty days written notice is given to the other party.

7.2 Both parties agree to waive any claim for damages following a termination of the contract, unless such damages are due to the fault of one of the parties.

In conclusion, the price adjustment clause is intended to provide protection to both parties in the event of a change in market conditions outside of the agreement. It ensures that both parties are held accountable to each other should any changes occur, and provides both parties with the right to terminate the contract should either party choose to do so.

Price Adjustment Terms

These Price Adjustment Terms (the “Terms”) set forth the details and procedures associated with price adjustments for goods and services as specified herein. These Terms form part of an overall agreement between the parties related thereto (the “Agreement”).

In the event that the cost of goods or services provided by one party to the other party is adjusted, either party may request a price adjustment, subject to the provisions hereunder. Price adjustments shall not exceed ten percent (10%) of the original cost at the time the services have been performed.

In order to request a price adjustment, the requesting party must provide the other party with written notice containing a detailed summary of the requested price adjustment. The other party will review the request and either accept or reject the price adjustment or may offer a counter proposal which must be accepted by the requesting party.

If the requested price adjustment is accepted, an adjustment will be made to the billing invoice, or other applicable payment arrangements, to reflect the mutually agreed upon adjustment. All adjusted payments shall be based upon the Agreement and applicable laws. All accepted price adjustments will be considered part of the Agreement and shall constitute a binding agreement between the parties.

In the event of a dispute regarding a price adjustment, the parties must attempt to resolve the dispute in good faith prior to taking any action in any court. If the dispute cannot be successfully resolved in this manner, either party may pursue any legal remedies available in a court of competent jurisdiction.

These Price Adjustment Terms are subject to the provisions of the overall Agreement between the parties. The Agreement shall be interpreted and enforced in accordance with the laws of the jurisdiction defined therein. If any provision in these Terms is found to be invalid or unenforceable, then that provision shall be severed from the rest of these Terms, and the remaining provisions shall remain in full force and effect.