cost of living clause

noun

Legal Definition of cost of living clause

: a clause in an agreement (as a collective bargaining agreement) that provides for increase of payments (as wages) made under the agreement in some proportion to the increase in the cost of living

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“Cost of living clause.” Merriam-Webster.com Legal Dictionary, Merriam-Webster, https://www.merriam-webster.com/legal/cost%20of%20living%20clause. Accessed 24 Jan. 2021.

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