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Superseded By EX 15031 Effective 9/28/15New York State Department of TransportationENGINEERING INSTRUCTION EI 12006Title: STANDARD SPECIFICATIONS SECTION 698 PRICE ADJUSTMENTS Target Audience: Manufacturers
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To fill out section 698 price adjustments, follow these steps:
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Begin by obtaining the necessary documents and forms related to price adjustments.
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Review the terms and conditions mentioned in the documents to understand the requirements for pricing adjustments.
04
Identify the specific section labeled as 'Section 698' within the provided documents.
05
Proceed to fill out the section by entering the relevant information and figures as required.
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Who needs section 698 price adjustments?

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Section 698 price adjustments are typically required by individuals, businesses, or organizations involved in contractual agreements or transactions where price adjustments may be necessary based on certain conditions.
02
For example, buyers and sellers in real estate transactions, construction projects, or long-term supply contracts may utilize section 698 price adjustments to account for changes in prices due to factors such as inflation, market fluctuations, or material cost variations.
03
Consulting the specific contractual agreement or seeking legal advice can help determine if section 698 price adjustments are needed in a particular situation.
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Section 698 price adjustments refer to the process of adjusting the prices of certain assets or transactions to reflect their fair market value.
Individuals or entities involved in transactions where price adjustments are necessary to reflect fair market value are required to file section 698 price adjustments.
Section 698 price adjustments can be filled out by providing accurate information about the assets or transactions being adjusted, along with supporting documentation.
The purpose of section 698 price adjustments is to ensure that prices of assets or transactions are adjusted to their fair market value, preventing tax evasion or manipulation of prices.
Information such as the description of the assets or transactions, the original price, the adjusted price, and any supporting documentation must be reported on section 698 price adjustments.
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