Difference between revisions of "Escalator clause"
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An '''escalator clause''' in a contract is a provision that adjusts wages, pension benefits, insurance or loan repayments over time based on a change in overall living costs or changes in price levels such as the consumer price index (CPI). | An '''escalator clause''' in a contract is a provision that adjusts wages, pension benefits, insurance or loan repayments over time based on a change in overall living costs or changes in price levels such as the consumer price index (CPI). | ||
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Revision as of 16:46, July 18, 2007
An escalator clause in a contract is a provision that adjusts wages, pension benefits, insurance or loan repayments over time based on a change in overall living costs or changes in price levels such as the consumer price index (CPI).