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## II.20. PRICE REVISION 

If a price revision index is provided in Article I.5.2, this Article applies to it. 

Prices are fixed and not subject to revision during the first year of the FWC. 

At the beginning of the second and every following year of the FWC, each price may be revised upwards or downwards at the request of one of the parties. 

A party may request a price revision in writing no later than three months before the anniversary date of entry into force of the FWC. The other party must acknowledge the request within 14 days of receipt. 

At the anniversary date, the contracting authority must communicate the final index for the month in which the request was received, or failing that, the last provisional index available for that month. The contractor establishes the new price on this basis and communicates it as soon as possible to the contracting authority for verification. 

The contracting authority purchases on the basis of the prices in force at the date on which the specific contract enters into force. 

The price revision is calculated using the following formula: 

<img src='content_image/487406.jpg'>

where: 

Pr = revised price; 

Po = price in the tender; 

Io = index for the month in which the FWC enters into force; 

Ir = index for the month in which the request to revise prices is received. 

## II.21. PAYMENTS AND GUARANTEES 

## II.21.1. Date of payment 

Payments are deemed to be effected on the date when they are debited to the contracting authority’s account. 

## II.21.2. Currency 

Payments are made in euros or in the currency provided for in Article I.7. 

## II.21.3. Conversion 

The contracting authority makes any conversion between the euro and another currency at the daily euro exchange rate published in the Official Journal of the European Union, or failing that, at the monthly accounting exchange rate, as established by the European Commission and published on the website indicated below, applicable on the day when it issues the payment order. 

