WebDefinition & Citations: 1. In Construction, this is an allowance to change the contracted price for labor, material, etc., based on a change in market prices or a consumer price index (CPI) as a benchmark. Provision in a contract. 2. In Leasing, this allows raising rent if maintenance and operation cost rise. Provision in property lease ... WebThe clause also outlines the cap of $350,000, which means that buyer will only increase their offer up to $350,000. If another offer came in at $348,000, the terms of the clause wouldn't allow the buyer to add the $5,000 because that would take the price beyond the cap of the escalator clause.
Definition of ESCALATOR CLAUSE • Law Dictionary • TheLaw.com
WebApr 4, 2024 · The competing offer is typically referred to as a "bona fide offer" to note that the competing offers can be real and provable. The increment can be anything, but is … Webescalator clause. n. 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. American Heritage® Dictionary of the English Language, Fifth ... clarington flames logo
Escalator Clause: Definition and Examples (2024)
WebEscalation. Sample Clauses. Escalation. If parties are unable to resolve the issue in a timely manner, as specified above, either Sourcewell or Vendor may escalate the resolution of the issue to a higher level of management. The Vendor will have 30 calendar days to cure an outstanding issue. Escalation. WebAug 27, 2024 · Without a separate bona-fide offer, the escalation clause will not apply. If you want to serve as a back-up offer, it might be a good idea to remove the escalation clause language and instead establish a … WebAug 18, 2024 · An escalation clause, also called an escalator clause, is a contractual provision allowing the contracting parties to increase, adjust, or alter the price when … download all-in-one installer 5.2