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Glite Dictionary
🛗 A moving staircase 📈 Automatic adjustment
escalator

escalator

1 8.4
A part of a contract that automatically raises pay or benefits when living costs rise
  • noun
  • /ˈɛskəˌleɪtər/
  • Jargon
translation icon : cláusula de actualización
  • If Tebow were to earn that escalator, his cap charge would balloon to $7,586,875.
  • escalator clause

Not raising, not raising the fuel escalator.

Examples

  • The rental agreement includes an escalator that ensures the rent increases each year in line with the cost of living.

  • Since the 1980s, some of the firm's partners had been enjoying a free ride on the income escalator without justifying their compensation through productive contributions.

    Academic text (1998)

  • Thus, if there is an escalator clause in the lease, the tenant could lose the advantage of a fixed rent at a specific amount that a long-term lease supposedly provides (Slonim 1982, p. 24).

    Academic text (1991)

  • Under the old CBA, 1st round draft picks often had low base value deals to comply with CBA rules, with easily attainable escalators based on playing time.

    Blog text (2)

  • It is evident from peak oil on the supply side and China's growth on the demand side that the price of crude oil (and by substitution the price of natural gas) is on an ever-upward escalator.

    Blog text (26)

  • Tebow's rookie contract had a base value of $9.7125 million with an easily achievable value of $11.125 million based on reaching the standard playing time escalators of either 35% as a rookie or 45% any year thereafter.

    Blog text (2)

  • The fact that construction costs are rising means we will need to revise the escalator clause in the contract to adjust the prices accordingly.

  • Due to the inflation rate increase, many workers' wages are automatically adjusted through wage escalators in their employment contracts.

Synonyms

sliding scale
vsescalator
3 4.1

A system where fees or prices change depending on a person's income

is a contract term making adjustments automatic within agreements
escalator clause
vsescalator
  • Jargon
7.9

A part of a contract that lets wages, prices, or benefits rise automatically when the cost of living increases

is a shorter name used instead of the full contract provision term

Compounds

escalator clause
  • Jargon
7.9

A part of a contract that lets wages, prices, or benefits rise automatically when the cost of living increases

How Automatic

escalator
  • Jargon
1 8.4
fixed charge
  • Specialized
3.7

Surface Forms

escalator singular
escalators plural

Etymology

Escalator in the contract sense comes from the same idea as the verb escalate, which comes from scala and means 'to rise' or 'go up'. So an escalator clause is a rule that makes wages or prices 'go up' automatically when conditions change.