All price increases must be of a general nature and apply to all customers. Increases must be verifiable through invoices submitted to the Contractor by the mill or paper distributor. Notification of price increases must be furnished in writing to the Purchasing Department for approval prior to printing. The University reserves the right to re-bid the contract if it does not want to accept increases. In the event of any commodity price decrease, the contractor shall promptly notify the University and any decrease in the price shall be reflected in pricing to the University.
Time is of the essence.
4.8 State percentage maximum markup over base year for each of the two option years, if any. A list of three references is required to be submitted with your quotation. These references should be agencies your firm has done business with in the past year on projects with a similar scope to this one .