Price Variation
/ˈpraɪs ˌvɛəriˈeɪʃən/
Definitions
- (n.) A legally recognized change or adjustment in the agreed price of goods or services within a contract, often subject to specified conditions or triggers.
The contract included a clause permitting price variation due to fluctuations in raw material costs.
Forms
- price variation
- price variations
Related terms
See also
Commentary
Price variation clauses must be clearly defined to avoid disputes; specifying triggers and limits is crucial in drafting.
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.