Ratchet clause - How To Discuss
Ratchet clause,
Definition of Ratchet clause:
Utility billing: Provision under which the demand charge for each month (or other period) is based on the highest measured demand (or its percentage) over the previous year (or other period).
Contracts: Provision under which the contract-associated rights of the involved parties are adjusted according to an agreed upon formula upon completion of a part or stage of the contract.
Meaning of Ratchet clause & Ratchet clause Definition
