Section 9 ~ Contract Forms Appendix 2 - Price Adjustment Brice Adjustment Formula for Schedule Nos.1 and 2 (Plant and Mandatory Spare Parts) of Price ices Payable to the Contractor, in accordance with the Contract, shall be subject to adjustment during Rerformance of the Contract to reflect changes in the cost of material components, in accordance with the lowing formula: The Contract Price shall be adjusted for the lecal/foreign currency prices of only the following equipment fated in Schedule No.1 (Plant and Mandatory Spare Parts Supplied From Abroad) and Schedule No.2 lant and Mandatory Spare Parts Supplied from within the Employer's Country) of the Price Schedules for ny increase or decrease in the costs: [Tt rants Pover 8A vertormes 1 {© Mun Vologe Bus war costes contr (3) Gitundng pte contel ond smal pon’ colt No increase in the price of each of the above mentioned components will be allowed beyond the scheduled livery! shipment period of the respective Plant ifthe price increase is because of reasons attributable to le Contractor, provided that the extension is granted pursuant o GCC Clause 40. The Employer will, however, be enlitled to any price decrease occurring during such period of delays. No price adjustment shall payable on the portion of ti Cuntiact Price paid to the Contractor as an advance payment. Each claim all be Supported with documentary evidences to the satisfaction of the Employer and the Project Manager. “jransformers (Power & Auto Transformers: Increase or decrease in the Price of Auto Transformers and Power Transformers payable by Employer to the “jontractor shail be caiculated on the basis of the following formula oes ’ Si, MIS, Adjustment in Price payable to the Contractor Contract Price of the Transformers i.e. base Price Copper index as per London Metal Exchange (LME) prevailing twenty eight (28) days prior to Bid Opening Date Cur = Copper index as per London Metal Exchange (LME) prevailing on the date of adjustment. jo = Silicon Steel index based on the rate on international Manufacturer i.e. M/s Nippon, Japan or M/s Kawasaki, Japan or M/s Thyssen Krupp, Germany prevailing twenty eight (28) days prior to Bid Opening Date 1 = Sllcon Stee! index based on the rate on intemational Manutacturer .e. M/s Nippon, Japan or M/s Kawasaki, Japan or M/s Thyssen Krupp, Germany prevailing on the date of adjustment. MS. = Hot rolled mild Steel thick plate (used in transformer) index in the country of Employer prevailing twenty eight (28) days prior to Bid Opening Date oss, x{osso2s+a1 Cy where rd _Joesure Two-Envelene Praesent of Pant Riding Nocmna or ADA.A60.2048Ms; Hot rolled mild Steel thick plate (used in transformer) index in the country of Employer prevailing on the date of adjustment Gantries and equipment support structures Only Price of Steel component shall be adjustable in price of Gantries and steel supporting structures. Increase or decrease in the Price of gantries and equipment supporting structures payable by Employer to the Contractor shall be calculated on the basis of the following formula: 2 =0.9x(R= B) Where P1= Adjustment in Price Stee! for Gantries and equipment support structures. B = is the basic rate of steel (USS/PKR per Metric Ton) prevailing twenty eight (28) days prior to the date of Bid Opening based on Pakistan Stee! Mill (PSM) Billet rate/London Metal Exchange (LME) cash official (whichever is applicable) forall grades of steel. R= js the revised rate of steel (USS/PKR per Metric Ton) prevailing twenty eight (28) days after the release of Advance Payment, based on PSM Billet rate / LME cash official (whichever is applicable) for all arades of steel W= Weight of steel in metric ton for Steel Gantries and equipment support structures based on the approved manufacturer's data and verified by the Employer's Representative for quantity used as per actual delivered to the Site which will become property of the Employer. Grounding System, Control and small Power Cables Only Price of Steel component shall be adjustable In price of grounding system, control ana small power cables. Increase or decrease in the Price of grounding system, control and smail power cables payable by Employer to the Contractor shall be calculated on the basis of the following formula P= 0.9x(R~B)xI Where Pi= Adjustment in Price of Copper for grounding system, control and smell power cables B= is the basic rate of Copper (USS per Metric Ton) twenty eight (28) days prior to the date of Bid ‘Opening based on LME cash official R= _ is the revised rate of Copper (USS per Metric Ton) prevailing twenty eight (28) days after the release of Advance Payment, based on LME cash offical W= Weight of Copper in Metric Ton for grounding system, control and small power cables based on the approved manufacturer's data and verified by the Employer's Representative for the quantity used as per actual delivered to the Site which will become property of the Employer. igh Voltage Bus Work, Stranded & Tubular Conductors Only Price of Aluminum component shall be adjustable in price of high voltage bus work, stranded & tubular conductors. Increase or decrease in the Price of high voltage bus work, stranded & tubular conductors payable by Employer to the Contractor shall be calculated on the basis of the following formula: Bidding Document tor ADB-301A ‘Procuremeni of Plant ‘Single Stage: Two-Envelope= 0.9%(R By here 1= Adjustment in Price of Aluminum for high voltage bus work, stranded & tubular conductors B= is the basic rate of Aluminum (USS per Metric Ton) twenty eight (28) days prior to the date of Bid q} Opening based on LME cash official = ie the revised rate of Aluminum (US$ per Metric Ton) prevailing twenty eight (20) days after the release of Advance Payment, based on LME cash official Weight of Aluminum in Metric Ton for high voltage bus work, stranded & tubular conductors based con the approved manufacturer's data and verified by the Employer's Representative for the quantity used as per actual delivered to the Site which will Become property of he Employer. “a the currency in which Contract Price is expressed is different from the currency of the country of origin of he materials indices, a correction factor shall correspond 10 the ratio of exchange rates between two ln on the date for adjustment and base date as defined above, Price Adjustment for Schedule No.4 (Civil Works only) of Price Schedules ice payable to the Contractor, in accordance with the Contract, shall be subject to adjustment during Performance of the Contract to reflect changes in the cost of labor and material components, in accordance ith the following formula: The Contract Price shall be adjusted for the local and foreign currency prices of the works staled in Schedule 7] (Civil Works only) of the Price Schedules for any increase or decrease in the costs of the following: (a) Rate of wages of skilled or unsiilled labour as a result of legal requirements or instructions of the Provincial or Federal Government b) Petrol and Diesel Fuel (2) Cement, Exfactory (4) Reinforcement Steel Bars, Ex-factory Provided always that no adjustment will be allowed if the cost increase is because of the default or lesligence of the Contractor. The escalation for each component to be according to the scheduled \dompletion of that item provided that extension is granted pursuant to Sub-Clause 40 of General Conditions of Contract. The Employer will, however, be entitled to any price decrease occurring during such period of ays. No price adjustment shall be payable on the portion of the Contract Price paid to the Contractor as In advance payment. For each claim the Contractor shall submit invoice from each source of supply. he increase or decrease in the amount payable by Employer to the Contractor shall be calculated on the Jasis of the following formula jh =0.9x| Ax 0304015 2401400540112 . Ul L e D +017 voi2S}-a) lnole-Stage: Two-Envelone Procurement of Plant Bidding Document for ADB-300-2018