Executed Contract - JPMC Reflective Sheeting Sign Materials P-85057_Redacted.pdf

2. PRICING

• Location where services will be performed:

• Value of services performed at this location:

2.1. TYPE OF PRICING: The Illinois Office of the Comptroller requires the State to indicate whether the contract price is firm or estimated at the time it is submitted for obligation. The total price of this contract is estimated.

2.2. VENDOR'S PRICING: Vendor's pricing is located in the Items Tab in the BidBuy Purchase Order.

2.2.1. Pricing must include all costs shipped F.O.B. destination and may not include any additional costs due to taxes (federal or otherwise) unless accompanied by proof the State is subject to the tax.

2.3. ECONOMIC ADJUSTMENTS:

2.3.1. Economic Adjustment General Information:

State of Illinois Contract v.25.3

2.3.1.1. The prices in this Contract must remain firm for the first year after the execution date of the Contract. Thereafter, one upward price adjustment may be applied no more frequently than once during any given twelve (12) month period.

2.3.1.2. All adjustment requests shall be made in writing. Vendor shall not be entitled to apply an upward price adjustment without first obtaining approval of such request from the Department of

Central Management Services Bureau of Strategic Sourcing

(BOSS).

2.3.1.3. In the event a downward adjustment is warranted, the State reserves the right to adjust once during any given twelve (12) month period for this decrease. It will be the responsibility of the vendor to notify BOSS of any such decrease.

2.3.1,4. Requested adjustments shall include the contract number, series number, line number, bid price and requested price adjustment.

2.3.1,5. In all cases, the contractor must file a claim in writing for such adjustment prior to the delivery of goods. In any event, the claim for such adjustment will not apply to release orders provided prior to the date the BOSS approved the economic adjustment request.

2.3.1.6. If the contractor has unresolved complaints filed against it for non-delivery of or poor-quality service, its request may be denied until such time as all p�st complaints are resolved to the satisfaction of the State.

2.3,2. PPI Adjustments:

2.3.2.1. Maximum allowable adjustments shall be governed by the U.S.

Bureau of Labor Statistics Producer Price Index (PPI) item number:

WPS066 Chemical and allied products-Plastic resins and material

The base PPI published index will be determined by the month of the bid opening date. If the bid opening date occurs in May, then the base PPI will be May's published index.

The published PPI Index at the time of requested adjustment will be determined by the month and day the adjustment was submitted to BOSS regardless of whether it is a preliminary or final index publication.

2.3.2.2. No further adjustments will be made once the maximum allowable adjustment has been calculated for the given 12 months.

2.3.2.3. The maximum allowable adjustment shall be calculated as follows:

State of Illinois Contract v.25.3

Maximum Allowable Price = A / B * C A= Bid Price B = Base PPI index (defined by time of bid opening) C = Published PPI index at time of requested adjustment The U.S. Bureau of Labor Statistics web site can be located at

HTTP://WWW.BLS.GOV/PPI.

2.3.2.4. Should the referenced producer price index (PPI) become discontinued during the contract, it will be replaced by an appropriate alternative PPI chosen by CMS and all adjustments will be calculated based on the same methodology as outlined above, but with data from the new replacement index.