We have a Framework Contract with a Public Sector Client that is approaching its first anniversary and we are beginning the process of calculating new rates in accordance with Option X1.
We are unclear if the change in rate requires a "formal" early warning to be issued to the Employer in advance of the anniversary.
We are in two minds at the moment. We can see why the changes requires an Early Warning as it will "increase the total of the prices." Equally, we can see why it would not since Option X1 is part of the Contract, the Index was set by the Employer at the outset and it will be a "risk" that is immediately realised.
Any guidance or suggestions would be appreciated.
We are unclear if the change in rate requires a "formal" early warning to be issued to the Employer in advance of the anniversary.
We are in two minds at the moment. We can see why the changes requires an Early Warning as it will "increase the total of the prices." Equally, we can see why it would not since Option X1 is part of the Contract, the Index was set by the Employer at the outset and it will be a "risk" that is immediately realised.
Any guidance or suggestions would be appreciated.