PRICE VARIATION CLAUSE. Price variation for Labour component: Please note that all rates (Manpower, Material etc.) quoted by the vendor shall remain fixed and valid for a period of one year i.e. initial contract period from the date of commencement of work and no escalation/price increase, whatsoever shall be considered during this period. Accordingly, contractor has to take due care on this account while quoting the rates. The Bank may consider renewal of contract for two years of one block each on the same terms and conditions except minimum wages which shall be considered as per Central Government rates prevailing at material time provided that the service rendered by the vendor are found satisfactory. However, renewal of contract is discretion of the Bank and the contractor shall have no right to claim for the same.
PRICE VARIATION CLAUSE. Applicable The rate of wage component in the order price shall be revised at the following formula whenever the minimum wages of labour are amended, as per the minimum wages Act: RR = OR + (NR-OR) x No. of days / month. Where, RR = Rate of minimum wages payable for the period of execution. NR = Rate of minimum wages applicable for the bill period. OR = Ordered rate i.e. minimum wages indicated in the order.
PRICE VARIATION CLAUSE. 25.1. Xxxxx considered for the estimation purpose for the man power other than Team Leader & Manager is based on minimum wages circulated by Extra Ordinary Gazette Of Rajasthan vide No. F5 (6)/ M.W./Labour/2000/Part/6633 notified on 17.03.2016.
PRICE VARIATION CLAUSE. 1. The amounts payable to the contractor, valued at base indices in accordance with the Xxxx of Quantities, shall be adjusted for rises or falls in the indices for labour, materials (excluding cost of base rate materials) and fuel. The Annexure “A” of bid document includes a list of percentages, for each of these components i.e. labour, material and fuel, which shall be used appropriately in the formulae provided hereunder. In addition to this for some selected materials (herein referred to “base rate materials” in these bid/contract documents) such as cement, steel, bitumen, CI/DI pipes etc. the amounts payable to the Contractor shall be adjusted by rises or falls in prices by addition or deduction of the amounts determined by the formulae prescribed hereunder. The list of such base rate materials, as deemed applicable by the Corporation (for the scope of work put to this bid/contract) along with their respective base prices (as on 30 days prior to the stipulated/revised date of submission of the Bids) as also available on the website of the Corporation (http:// xxx.xxxxx.xxxxxxxxxxx.xxx.xx/). The Contractor shall abide by these lists and the contents thereof and no request for revision, inclusion or exclusion to these lists shall either be made by him or the Corporation shall consider such a request, which shall automatically stand summarily rejected. The amount to be added to or deducted from the Payment Certificates (PC) for changes in Cost shall be determined from the following formula. VA = VL + VM+ VF+ ∑VS Where, VA= total Amount (arrived at by algebraic addition) to be added to or deducted from payment certificate (PC). VL= Amount to be added to or deducted from PC for changes in cost due to labour. VM= Amount to be added to or deducted from PC for changes in cost due to all materials (excluding base rate materials). VF = Amount to be added to or deducted from PC for changes in cost due to POL. ∑VS = Amount to be added to or deducted from PC for changes in cost due to base rate materials.
PRICE VARIATION CLAUSE. The Contractor shall be reimbursed or shall refund to the Corporation as he case may be the variation in the value of the work carried out from time to time, depending on whether the prices of material and labour as a whole rise or fall, and the method adopted for such computations shall be as given below, it being clearly understood that the contractor shall have no claim for being reimbursed on the ground that the price of a particular material or group of materials have risen beyond the limits of the presumptions made in the following paras, however, no price variations shall be made applicable for contracts up to 12 months:
PRICE VARIATION CLAUSE. The prices shall remain firm during the entire contract period. Since the clause states the prices will remain firm for the entire contract period, keeping in mind the inflation rate trend and Consumer price index (CPI) we request you to consider the revision of rates as per the CPI index from time to time. Minimum Wages revision / VDA shall be consider on Manpower cost only as per Revision of Govt. wages from time to time. For Supervision wages increment factor shal be applicable as per price schedule (to be submitted by the bidders) 12 8.1 Special Conditions of Contract: C Discom shall reserve the right to change the number of Customers in 1 or 2 divisions /Circles (as the case may be) considered in the contract during the period with 1 month notice in advance. Notice period for change in consumers should be revised from one month to three months. Firm as per NIT
PRICE VARIATION CLAUSE. 15.1 Price variations clause is not applicable in this contract.PRICE VARIATION CLAUSE. If during the operative period of the Contract as defined in condition (i) below, there shall be any variation in the consumer Price Index (New Series) for Industrial Workers for Mumbai center as per the Labor Gazette published by the Commissioner of Labor, Government of Maharashtra and/or in the wholesale Price Index for all commodities prepared by the Office of Economic Adviser, Ministry of Industry, Government of India, or in the Price of petrol/Oil and lubricants and major construction materials like bitumen, cement, steel, various types of metal pipes etc., then subject to the other conditions mentioned below, price adjustment on account of
PRICE VARIATION CLAUSE. 2.1.1 Price Variation Clause is applicable for Distribution Transformers Price variation shall be applicable as per PV formulae as below: P =P0/100 * (8 + 22*(AL/AL0) + 36*(ES/ES0) + 12*(IS/IS0) + 5*(IM/IM0) + 10*(TO/TO0) + 7*(W/W0)) P = Price payable as adjusted in accordance with above formula. P0= Price quoted/confirmed. AL0= LME CSP Average of Aluminium (refer notes) This price is as applicable for the month, ONE month prior to the date of tendering. ES0= Price of CRGO Electrical Steel Lamination (refer notes) This price is as applicable for the month, ONE month prior to the date of tendering. IS0= Price of HR Coil of 3.15 mm thickness (refer notes) This price is as applicable for the month, ONE month prior to the date of tendering. IM0 = Price of Insulating Materials (refer notes) This price is as applicable for the month, ONE month prior to the date of tendering. TO0 = Price of Transformer Oil (refer notes) This price is as applicable for the month, ONE month prior to the date of tendering. W0 = All India average consumer price index number for industrial workers, as published by the Labour Bureau, Ministry of Labour, Govt. of India (Base: 2016 = 100) This index number is as applicable for the month, THREE months prior to the date of tendering. For example, if date of tendering falls in December 2021, applicable prices of Aluminum (AL0), Transformer Oil (TO0), CRGO Steel Sheets (ES0), HR Coil (IS0) and Insulating material (IM0) should be as on 1st November 2021 and all India average consumer price index no. (W0) should be for the month of September 2021. AL = LME CSP Average of Aluminium (refer notes) This price is as applicable for the month, ONE month prior to the date of delivery. ES= Price of CRGO Electrical Steel Lamination (refer notes) This price is as applicable for the month, ONE month prior to the date of delivery. IS= Price of HR Coil of 3.15 mm thickness (refer notes) This price is as applicable for the month, ONE month prior to the date of delivery. IM = Price of Insulating Materials (refer notes) This price is as applicable for the month, ONE month prior to the date of delivery. TO = Price of Transformer Oil (refer notes) This price is as applicable for the month, ONE month prior to the date of delivery. W = All India average consumer price index number for industrial workers, as published by the Labour Bureau, Ministry of Labour, Govt. of India (Base: 2016 = 100) This index number is as applicable for the month, THREE months prior to t.
PRICE VARIATION CLAUSE. It is advisable to include Price Variation Clause in the long term contracts to take care of the increase/decrease in prices of various ingredients which majorly affect the overall price of the service. Buyers are therefore advised to include the Price Variation Clause (PVC) in the bid document through ATC for long term contracts. The additional payment, if any, on account of PVC can be done o ine till such time online functionality is developed on GeM."