paid” by the Client appropriate: or [insert as “be “reimbursed”] or the Consultant. appropriate: “for“ “to”] The amount of such taxes is ____________________ [insert the amount as finalized at the Contract’s negotiations on the basis of the estimates provided by the Consultant in Form FIN-2 of the Consultant’s Financial Proposal.] 42.3 Price adjustment on the remuneration [insert …………….. does not apply”] or “applies” “ [If the Contract is less than 18 months, price adjustment does not apply. If the Contract has duration of more than 18 months, a price adjustment provision on the remuneration for foreign and/or local inflation shall be included here. The adjustment should be made every 12 months after the date of the contract for remuneration in foreign currency and except if there is very high inflation in the Client’s – country, in which case more frequent adjustments should be provided for at the same intervals for remuneration in local currency. – Remuneration in foreign currency should be adjusted by using the relevant index for salaries in the country of the respective foreign currency (which normally is the country of the Consultant) and remuneration in local currency by using the corresponding index for the Client’s country. A sample provision is provided below for guidance: Payments for remuneration made in [foreign local] currency and/or shall be adjusted as follows: (1) Remuneration paid in foreign currency on the basis of the rates set forth in Appendix C shall be adjusted every 12 months (and, the first time, with effect for the remuneration earned in the 13th calendar month after the date of the Contract Effectiveness date) by applying the following formula: {or } where is the adjusted remuneration; Rf is the remuneration payable on the basis of the Rfo remuneration rates (Appendix C) in foreign currency; is the official for salaries in the country of the foreign If currency for the first month for which the adjustment is supposed to have effect; and
appropriate: “be paid” or “reimbursed”] by the Client [insert as appropriate: “for“ or “to”] the Consultant. The amount of such taxes is ____________________ [insert the amount as finalized at the Contract’s negotiations on the basis of the estimates provided by the Consultant in Form FIN-2 of the Consultant’s Financial Proposal.] 42.3 Price adjustment on the remuneration …………….. [insert “applies” or “ does not apply”] [If the Contract is less than 18 months, price adjustment does not apply. If the Contract has duration of more than 18 months, a price adjustment provision on the remuneration for foreign and/or local inflation shall be included here. The adjustment should be made every 12 months after the date of the contract for remuneration in foreign currency and – except if there is very high inflation in the Client’s country, in which case more frequent adjustments should be provided for – at the same intervals for remuneration in local currency. Remuneration in foreign currency should be adjusted by using the relevant index for salaries in the country of the respective foreign currency (which normally is the country of the Consultant) and remuneration in local currency by using the corresponding index for the Client’s country. A sample provision is provided below for guidance: Payments for remuneration made in [foreign and/or local] currency shall be adjusted as follows: (1) Remuneration paid in foreign currency on the basis of the rates set forth in Appendix C shall be adjusted every 12 months (and, the first time, with effect for the remuneration earned in the 13th calendar month after the date of the Contract Effectiveness date) by applying the following formula: {or } where Rf is the adjusted remuneration; Rfo is the remuneration payable on the basis of the remuneration rates (Appendix C) in foreign currency; If is the official for salaries in the country of the foreign currency for the first month for which the adjustment is supposed to have effect; and
SPDRequestForProposalsConsultantsJanuary2017.docx