Get the free Resolution on price escalation guidelinesPDF

GOVERNMENT PROCUREMENT POLICY BOARD RESOLUTION NO. 072004 WHEREAS, Republic Act No. 9184 (R.A. 9184), entitled An Act Providing for Modernization, Standardization and Regulation of the Procurement

How to fill out resolution on price escalation

Point by point guide on filling out resolution on price escalation:

1. Start by stating the purpose of the resolution: Begin the resolution by clearly defining the issue of price escalation and why it needs to be addressed. Provide background information or previous attempts to resolve the matter if relevant.
2. Consider the affected parties: Identify who needs to be involved in the resolution, such as suppliers, vendors, or contractors. Determine if it is necessary to consult legal advisors or other experts to ensure the resolution is legally viable and fair to all parties involved.
3. Outline the desired outcome: Clearly articulate what the resolution aims to achieve. Define the specific objectives or goals that need to be met to effectively address the price escalation issue. This could include finding ways to limit future price increases, renegotiating contracts, or implementing cost control measures.
4. Provide supporting evidence or data: Back up your resolution with relevant information, such as market trends, cost analysis, or any contractual provisions related to price escalation. Use this evidence to substantiate the need for the resolution and convince others of its importance.
5. Propose potential solutions: Offer concrete suggestions or solutions for resolving the price escalation issue. This may include renegotiating contracts, implementing cost-sharing mechanisms, or exploring alternative suppliers or vendors.
6. Consider the financial impact: Assess the potential financial implications of the proposed resolution. Evaluate how it may affect budgets, profit margins, and overall financial stability. It is crucial to ensure that any resolution is financially feasible and sustainable for the parties involved.
7. Set a timeline and action plan: Establish clear deadlines for the implementation of the resolution. Define specific action steps to be taken, responsibilities, and any necessary follow-ups or periodic reviews to ensure compliance and effectiveness.

Who needs resolution on price escalation?

Companies or organizations that regularly engage in business transactions involving pricing agreements may require a resolution on price escalation. These could include:

1. Procurement departments: Companies that frequently procure goods or services from suppliers and vendors and need to address sudden and significant price increases.
2. Contract managers: Individuals responsible for overseeing contracts and ensuring parties adhere to agreed-upon terms. They may need to resolve price escalation issues to uphold contractual obligations and maintain healthy business relationships.
3. Finance and accounting teams: These teams need to address price escalation to accurately forecast budgets, manage costs, and ensure financial stability.
4. Legal departments: If resolving price escalation requires legal expertise or negotiation, legal departments may play a crucial role in drafting the resolution and ensuring compliance with relevant laws and regulations.
5. Stakeholders: Individuals or groups with a vested interest in the pricing agreements may need to review or approve the resolution on price escalation.

It is essential to involve all relevant parties to ensure a comprehensive and effective resolution to address price escalation.

For pdfFiller’s FAQs

What is resolution on price escalation?

Resolution on price escalation is a formal document that outlines the agreed-upon terms for adjusting prices in a contract in response to changes in market conditions.

Who is required to file resolution on price escalation?

The parties involved in the contract are required to file resolution on price escalation.

How to fill out resolution on price escalation?

Resolution on price escalation can be filled out by detailing the specific circumstances under which prices will be adjusted, including the triggers for escalation and the calculation method.

What is the purpose of resolution on price escalation?

The purpose of resolution on price escalation is to provide a clear framework for managing price changes in a contract, ensuring that both parties are in agreement on how and when adjustments will be made.

What information must be reported on resolution on price escalation?

Resolution on price escalation must include details on the original price, the circumstances under which prices will be adjusted, the method for calculating adjustments, and any other relevant terms.

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