Using Price Indices in Contracts Webinar
This webinar, open to all UKUPC member institutions, will be hosted by the Price Indices Team within MoD’s Defence Economics Team as they present an Inflation Masterclass session. Register your place here.
The webinar will be in 3 parts, opening with an introduction to Inflation and Price Indices, explaining the benefits of using indexation in contracts and why fixed pricing balances the inflation risk between both the supplier and purchaser. We will explain the MoD approach to inflation and how we have policies in place to encourage fixed pricing to minimise inflation risk. We will also explain why we use industry and country specific indexation with fixed pricing rather than just using CPI.
The second part of the session will demonstrate how to choose the right price index for a given contract, using examples relevant to the education sector. This uses the Standard Industrial Classification hierarchy to identify where goods or services being procured would sit within the hierarchy and then we will explain how to translate the SIC code into an ONS price index.
The final part will look at how we build inflation into the contract clause using the MoD sample clause and VOP formula.
We will also leave plenty of time for questions at the end, so we can discuss more on specific use cases and scenarios that may crop up in the education sector.
When – Tuesday 22 September | 10:00 – 11:30 | Online
Where – Online via Microsoft Teams – register here
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