The following TMT precedent provides comprehensive and up to date legal information covering:
This Schedule describes the processes and procedure for benchmarking the Supplier’s services.
In this Schedule, the following terms shall have the meanings set out below:
in relation to a Benchmark Review, means those parts of the Services that the Customer specifies (in the notice referred to in paragraph 3.1 of this Schedule) should be subject to that Benchmark Review (these may, for the avoidance of doubt, be all the Services);
in relation to a Benchmark Review, means the third party appointed as such under paragraph 4.3 (as that person may be replaced from time to time under paragraph 4.4);
means a written report, carried out pursuant to a Benchmark Review in accordance with this Schedule, as to whether:
(for Charges Benchmark Reviews) the Charges for the Benchmarked Services are Market Competitive; or
(for Performance Benchmark Reviews) the Performance Standards for the Benchmarked Services are Market Competitive;
means a Charges Benchmark Review and/or a Performance Benchmark Review;
Charges Benchmark Review
means any benchmarking of the Charges for Benchmarked Services, carried out in accordance with this Schedule;
the Supplier’s cost components arising in performing the Services, including: (a) raw material costs; (b) manufacturing costs; (c) exchange rate fluctuations; (d) new technology costs; (e) property costs; (f) utility costs; (g) labour costs; (h) interest rates; and (i) profit costs;
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