Price Adjustment تعديل الأسعار
Definition
A contractual mechanism that recalculates the rates of particular items when material prices or tariffs change, subject to conditions and supporting evidence — steel and cement differences, for instance.
Example
The steel item was adjusted after the difference was evidenced by purchase invoices.
Where it is used
Sharing the risk of price volatility on long contracts.
Related terms
From the term to the work
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