Section 9 in Rules for Rate Contract with Small Scale Industries of Orissa registered with the Directorate of EP&M, Orissa
9. Price Variation.
- (i) The Director shall have the power to enhance or reduce the price of a store if during the period of the contract, the cost of manufacture has undergone substantial change on account of change in the price of raw material or other components of production.(ii)In case where the prices of certain raw materials are regulated by Government of India or State Government, the Director shall have the power to change the prices of the stores covered by the contract incorporating the change in the prices of raw materials as effected by Government of India or State Government.(iii)It shall be the duty of the contractor to intimate the Director about changes in the prices of raw materials and other components of manufacture during the period of contract which might result in change in the final price in either direction. Failure to furnish this information to Director shall amount to breach of conditions of contract on the part of the contractor.The contract shall be drawn up and communicated to the contractor in the form at Schedule V.(iv)All Indenting Officers of Government Departments/Agencies shall intimate their annual requirement of store items to the DEPM by 31st May of every year.
