Contract Price Adjustment Regulations in Spain
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Article 103: Contract Price Adjustment Conditions
Requirements for conducting appropriate price revisions:
- The price review will take place when 20% of the contract has been executed and one review year has elapsed.
- No price adjustment for fee-for-lease contracts, lease with option to purchase, or minor contracts.
- The contract documents will detail the specific review formula and may specify conditions for its application.
Article 104: Price Adjustment System & Formulas
- The price review is carried out with official formulas determined by the contracting authority. The Council of Ministers may adopt these formulas based on the report of the Advisory Board on Administrative Contracting.
- The formulas reflect the contract price based on labor and