1. PRICE INDEX
A monthly price index (Iq) will be based on the Comex, Core, Steel, Oil, Major Accessories and Labor costs at the middle of each month for the month. Iq for January 2004 will be 1.0. The price index will be published to the VTC web site at the beginning of each month and will be effective for the whole month. The index will be based on the prior month’s prices.
2. DOCUMENTATION
The price index will be used to calculate the adjustment applied to the price at shipment per the below equation: