Price Adjustment - Petroleum Products

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Item Information

Revision History

Date Status ID Title
2008-05-12 Active M3501C Price Adjustment - Petroleum Products (2008-05-12) M3501C

Remarks – Recommended Use of SACC Item

Use the following clause in standing offers for the purchase of petroleum products when prices are subject to adjustment in accordance with any increase or decrease established by the petroleum producer.

Legal text for SACC item

  1. The prices detailed in the Standing Offer are subject to upward or downward adjustment to allow for:
    1. changes due to price adjustment in petroleum products that are a direct result of increased or decreased prices imposed by the petroleum producer. A copy of the Offeror's notification of price increase or decrease from the petroleum producer must be provided to the Standing Offer Authority; and/or
    2. imposition of any new or changes to any existing levies, tariffs or fees of whatsoever nature applicable to any petroleum product, authorized, imposed or agreed to by Canada or any provincial government or by any Governmental Regulatory Authority.
  2. The Standing Offer will be revised to reflect the actual price of the increase or decrease at time of delivery. The Offeror must not invoice at prices other than those specified in the Standing Offer.