Agmt05 BFI Waste Systems - Laserfiche WebLink

Browse Search

January 1, 2000 to December 31, 2000 the Rate Year is January 1, 2001 to December 31, 2001. COMPENSATION ADJUSTMENT PROCESS The Agreement states that The Contractor's Compensation for the initial twelve (12) months of the Agreement (Rate Year One) (i.e., from January 1, 2000 to December 31,2000) is expected to be Ten Million Four Hundred Fifty-three Thousand dollars ($10,453,000), based on the Contractor's Projected Costs Presented in Attachment 2. It is noted that the intent of the Agreement was to commence operations under the Agreement as of January 1, 2000. Due to financing delays, the actual start date was March 1, 2000. The consequence of this event is that during the two month period from January 1,2000 through February 29, 2000 the Contractor was functioning under the old agreement. The SBWMA has directed the Consultant to review the income and expenses during the two month period and add any monies due to or due from the Contractor to the established balancing account. The Contractor shall submit its annual Request for Adjustment of Contractor's Compensation on or before August 1st of each year for the following Rate Year. In the first year of the contract, the Request shall not be considered overdue if it is received by the SBWMA no later than September 1st. This request shall be in a form as described in this document (also known as Exhibit D in the Agreement). The Contractor will provide all information requested by the SBWMA as part of its review of the Contractor's application, including, but not limited to, all information from related parties regarding any transactions between the Contractor and any Related Party Entity. The SBWMA shall use its best efforts to make the adjustment effective by January 1st of the following year. However, the SBWMA shall not make any retroactive adjustments to compensate for any delay in calculating the Contractor's Compensation which results in whole or in part from: 1) the failure of the Contractor to submit its request by August 1st; 2) the failure of the Contractor to reasonably cooperate with the requests of the SBWMA for information related to any of the calculations required by this Section; and/ or 3) from unsuccessful appeals by the Contractor of the determination to the SBWMA which extends the process of determination. If an appeal is successful, then the corresponding compensation due Contractor shall be considered when setting Contractor's compensation in the following year. , SBWMA Compensation Adjustment Guideline.~ June 6, 2000 PAGE 4