Matching Provision
/ˈmætʃɪŋ prəˈvɪʒən/
Definitions
- (n.) A contractual clause requiring one party to match terms or conditions offered by a third party, often in bidding or pricing contexts.
The matching provision obligated the seller to offer the buyer any lower price received from competitors.
- (n.) A statutory or regulatory requirement compelling an entity to provide benefits or contributions comparable to those of a counterpart.
Under the health plan's matching provision, the employer must contribute an amount equal to employee premiums.
See also
Commentary
Matching provisions require careful drafting to define the scope of matchable terms and timing for invocation to avoid disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.