Definition of escalator clause in English:
A clause in a contract that allows for an increase or a decrease in wages or prices under certain conditions.
- You could try inserting a materials-price escalation clause into contracts.
- None of the contractors protected itself with a price escalation clause.
- The contract price did not contain an escalation clause, although this would have been difficult with the daily fluctuations in livestock prices.
Definition of escalator clause in:
- British & World English dictionary
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