basket clause

basket clause

n
(Industrial Relations & HR Terms) an all-inclusive or comprehensive clause in a contract
Collins English Dictionary – Complete and Unabridged, 12th Edition 2014 © HarperCollins Publishers 1991, 1994, 1998, 2000, 2003, 2006, 2007, 2009, 2011, 2014
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References in periodicals archive
A basket clause plus a case-by-case review of individual situations might also provide a way to make available a common bank and thrift charter to those unitary thrift institutions that are affiliated with nonfinancial businesses.
Statement by Alan Greenspan, Chairman, Board of Governors of the Federal Reserve System, before the Subcommittee on Financial Institutions and Consumer Credit of the Committee on Banking and Financial Services, U.S. House of Representatives, February 13, 1997
Says Palay, "Under the Canadian-British Insurance Companies Act, insurance firms are restricted from investing in venture capital, but there is a basket clause that allows a small percentage of all funds to be put into non-designated areas.
Angels with money
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