Worried about inflation or rising costs in your contracts? Let’s talk about Fixed Price with Economic Price Adjustment Contracts!
A Fixed Price with Economic Price Adjustment Contract is a fixed-price contract with a provision for adjusting the price due to changes like inflation or commodity costs.
Why do you need it? This contract protects both parties from unpredictable economic changes, ensuring fairness when prices shift unexpectedly.
How to use it? Set a fixed price, then define the conditions that allow for price adjustments. Keep track of economic changes and apply adjustments when necessary.
Master this contract, and you’ll stay ahead of market changes without compromising your project budget. Ready to safeguard your contracts?
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