As prescribed in 216.203-4-70(b), use the following clause:
Economic Price Adjustment-Nonstandard Steel Items (JAN 2023)
Base labor index means the average of the labor indices for the three months which consist of the month of bid opening (or offer submission) and the months immediately preceding and following that month.
Base steel index means the Contractor's established price (see note 6) including all applicable extras of $________ per __________ (see note 1) for __________ (see note 2) on the date set for bid opening (or the date of submission of the offer).
Current labor index means the average of the labor indices for the month in which delivery of supplies is required to be made and the month preceding.
Current steel index means the Contractor's established price (see note 6) for that item, including all applicable extras in effect ________ days (see note 3) prior to the first day of the month in which delivery is required.
Established price is-
Labor index means the average straight time hourly earnings of the Contractor's employees in the ________ shop of the Contractor's __________ plant (see note 4) for any particular month.
Month means calendar month. However, if the Contractor's accounting period does not coincide with the calendar month, then that accounting period shall be used in lieu of month.
Notes:
(End of clause)
48 C.F.R. §§252.216-7001