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term:
Cost Of Living Clause
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cost of living clause n
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: 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
Source: Merriam-Webster's Dictionary of Law ©1996. Merriam-Webster, Incorporated. Published under license with Merriam-Webster, Incorporated.