A price adjustment is applied only if it is provided for in the tender documents and the contract, and in accordance with the applicable principles. It is calculated using the coefficients, indices and weightings specified in the contract. If no price adjustment is provided for in the documents, no payment may be made even if input prices subsequently increase significantly. Therefore, for long-term contracts and works sensitive to input prices, reviewing the price adjustment provisions before preparing the tender is crucial.
Legal basis: Law No. 4735, Art. 8; Principles on Price Adjustments