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). |
[[category:economics]] | [[category:economics]] | ||
Revision as of 02:06, September 2, 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).