A provision in an agreement or regulation giving a party or beneficiary the benefit of an increase in payment, or an excuse from payment of an additional amount, where some specified change in financial conditions occurs, such as an increase in cost of living.
(Industrial Relations & HR Terms) a clause in a contract stipulating an adjustment in wages, prices, etc, in the event of specified changes in conditions, such as a large rise in the cost of living or price of raw materials
a provision in a contract calling for adjustments, usu. increases, in charges, wages, or other payments, based on fluctuations in production costs, the cost of living, or other variables.
escalator clause - a clause in a contract that provides for an increase or a decrease in wages or prices or benefits etc. depending on certain conditions (as a change in the cost of living index)
'In evaluating the reasonableness of the proposed rate of P2.99 per kWh, the commission resolved to allow SPTC to apply the 2-percent annual escalation clause, as prayed for in its motion for partial reconsideration,' the ERC said.
* Consider an escalation clause. An escalation clause is an addendum to your offer that allows your buyer's agent to increase your offer to a certain amount above the best offer the seller receives, such as $1,000 over any other offer, not to exceed X dollars above your initial offer.
Under the contract Altenesol will pay U.S 4.90/MMbtu with a 2% escalation clause over the 15 year contract period, which is a past through to the off-takers.
Superintendent of Roads Dennis Bartlett said he originally did not have an escalation clause in the bids he sought for hot top, but at the advice of the state, added one to allow to account for the possibility of rising oil prices.
Soon after, I became well acquainted with the concept of the escalation clause, the inspections waiver, the failed bid, and generally competing like gladiators for any property deemed livable and available.
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