55 -- Plywood/Hardwood

Solicitation Number MT724-05 is hereby amended to extend the bid opening date from Tuesday, October 4, 2005 to Wednesday, October 12, 2005 and to include an Economic Price Adjustment Provision to this requirement. Twelve (12) months after contract award date, contract prices for the succeeding twelve (12) month period for each line item listed in the schedule under Section B may be adjusted in accordance with the change in the Hardwood Market Report from the date of award to the date of adjustment. IT IS THE CONTRACTOR'S RESPONSIBILITY TO REQUEST THIS ADJUSTMENT. Adjustments may be requested for a period not to exceed 30 days after the eligible adjustment date. Requests that are made after the 30-day limit will not be honored and the contract pricing will not be adjusted. The contractor shall submit any requests for adjustments in writing to the contracting officer. Requests shall include a copy of the relevant index and must be within the allowed time period for adjustment. Any adjustments authorized as a result of the adjustment request will not be retroactive. The date the completed request is received by the contracting officer will be the effective date of any changes in price. The contractor also is required to request downward price adjustments. All downward adjustments will be retroactive to the authorized adjustment date as specified in this clause. If downward price adjustments are not requested and this is later revealed through audits or otherwise, the contractor shall reimburse the Government the amount overcharged plus interest. Interest will be computed at the rate set annually by the Secretary of the Treasury for late contract payments. Interest will accrue from the date the adjustment should have been made. In computing any contract price adjustment, the most recently published index as of the date of award will be compared to the most recently published index as of the date of adjustment. No adjustment shall be made if the referenced change is less than 2%. Total upward adjustment for the contract period, including any option periods, are negotiable, based on the original or option period contract price; downward adjustments are not limited. Indices are available from the Bureau of Labor Statistics, 600 E Street N.W., Washington, DC 20212, telephone 202-691-7705. All other terms and conditions remain unchanged.