252.216-7003   Economic price adjustment-wage rates or material prices controlled by a foreign government.

11. Amend section 252.216-7003 by--

a. Amending the introductory text by removing "216.203-4-70(c)" and adding in its place "216.203-4-70(c)(1)";

b. Amending the clause date by removing "(JUN 1997) and adding in its place "(MAR 2012)"; and

c. Revising paragraph (a) to read as follows:

252.216-7003   Economic price adjustment-wage rates or material prices controlled by a foreign government.

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(a) As represented by the Contractor in its offer, the prices set forth in this contract--

(1) Are based on the wage rates or material prices established and controlled by the government of the country specified by the Contractor in its offer; and

(2) Do not include contingency allowances to pay for possible increases in wage rates or material prices.

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