Price Adjustment
/ˈpraɪs əˌdʒʌstmənt/
Definitions
- (n.) A contractual or legal mechanism by which the price of goods or services is altered after initial agreement, often due to changed circumstances such as cost fluctuations or performance issues.
The contract included a price adjustment clause to account for variations in material costs.
Forms
- price adjustment
- price adjustments
Related terms
See also
Commentary
Used primarily in contracts to allow flexibility in agreed prices; clarity in drafting price adjustment terms helps prevent disputes over permissible changes.
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.