What does escalator clause mean?
Definitions for escalator clause
es·ca·la·tor clause
This dictionary definitions page includes all the possible meanings, example usage and translations of the word escalator clause.
Princeton's WordNet
escalator clause, escalatornoun
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)
ChatGPT
escalator clause
An escalator clause is a provision in a contract that allows for an automatic increase or decrease in prices, wages, or benefits based on specified criteria or conditions, such as changes in inflation, cost of living, or market rates. This clause is often used in long-term contracts and agreements to protect the parties involved from potential changes in economic conditions.
Wikidata
Escalator clause
An escalator clause is a clause in a lease or contract that guarantees a change in the agreement price once a particular factor beyond control of either party affecting the value has been determined. Escalator clauses are quite common in construction contracts to cover unexpected costs due to fluctuations in the prices for raw materials, fuel, and labor during the course of the construction project. This subject is often taught as part of a Management or Economics degree at university.
Matched Categories
Numerology
Chaldean Numerology
The numerical value of escalator clause in Chaldean Numerology is: 5
Pythagorean Numerology
The numerical value of escalator clause in Pythagorean Numerology is: 2
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"escalator clause." Definitions.net. STANDS4 LLC, 2024. Web. 23 Apr. 2024. <https://www.definitions.net/definition/escalator+clause>.
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