labour, materials, financial and technology dividends; and the economically efficient operation of the Contractor. On receipt of the application for a Price Adjustment under clause 37.5(a)(i) Finance may, acting reasonably, undertake one or more of the following acts: seek further information from the Contractor in relation to the application; seek advice from a or advisers in Customer’s Finance’s relation to the application or the justification; evaluate the application; and assess the justification by the Contractor for a Price Adjustment by benchmarking the Price Adjustment against other consumer price, labour, materials, financial and technology dividends or similar applications by other Panellists or other operators in the stationery and office supplies industry. Subject to the Contractor providing Finance with adequate reasons and documentation in accordance with clause 37.5(a)(iii), and in considering the justification for such adjustment in accordance with clause 37.5(a)(v), Finance will, acting reasonably, approve or reject a proposed Price Adjustment within 30 Business Days of the application for the Price Adjustment having been made by the Contractor. In exercising its rights under clause 37.5(b), Finance may approve a Price Adjustment that is different to that sought by the Contractor, or after considering the justification for a Price Adjustment made by the Contractor under clause 37.5(a)(i), or as a result of a review initiated by Finance under clause 37.5(a)(ii) Finance may, acting reasonably, reduce the Price. A Price Adjustment approved by Finance applies: immediately amend the Prices for the applicable Volatile Product in the SOS Product List set out in the Statement of Requirement; immediately amend the Prices in each Customer Catalogue to the extent the Volatile Products for which the Price Adjustment applies are set out in that Customer Catalogue; and to all Orders made on or after the date on which Finance approves the Price Adjustment, provided that a Price Adjustment must not be applied retrospectively and any Orders entered into for the supply of Stationery and Office Supplies or Services will continue.
labour, materials, financial and technology dividends; and the economically efficient operation of the Contractor. On receipt of the application for a Price Adjustment under clause 37.5(a)(i) Finance may, acting reasonably, undertake one or more of the following acts: seek further information from the Contractor in relation to the application; seek advice from a Customer’s or Finance’s advisers in relation to the application or the justification; evaluate the application; and assess the justification by the Contractor for a Price Adjustment by benchmarking the Price Adjustment against other consumer price, labour, materials, financial and technology dividends or similar applications by other Panellists or other operators in the stationery and office supplies industry. Subject to the Contractor providing Finance with adequate reasons and documentation in accordance with clause 37.5(a)(iii), and in considering the justification for such adjustment in accordance with clause 37.5(a)(v), Finance will, acting reasonably, approve or reject a proposed Price Adjustment within 30 Business Days of the application for the Price Adjustment having been made by the Contractor. In exercising its rights under clause 37.5(b), Finance may approve a Price Adjustment that is different to that sought by the Contractor, or after considering the justification for a Price Adjustment made by the Contractor under clause 37.5(a)(i), or as a result of a review initiated by Finance under clause 37.5(a)(ii) Finance may, acting reasonably, reduce the Price. A Price Adjustment approved by Finance applies: immediately amend the Prices for the applicable Volatile Product in the SOS Product List set out in the Statement of Requirement; immediately amend the Prices in each Customer Catalogue to the extent the Volatile Products for which the Price Adjustment applies are set out in that Customer Catalogue; and to all Orders made on or after the date on which Finance approves the Price Adjustment, provided that a Price Adjustment must not be applied retrospectively and any Orders entered into for the supply of Stationery and Office Supplies or Services will continue.
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