This office lease form describes an operating cost escalations provision.In the event that the operating costs for any calendar year during the term of this lease shall be greater than the base operating costs, the tenant will pay to the landlord additional rent of an amount equal to such an increase.
Oregon Operating Cost Escalations Provision
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Multi-State
Control #:
US-OL19034A
Format:
Word;
PDF
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FAQ
A cost escalation clause allows the contractor to pass through to the owner the increase in the cost of materials despite agreeing to a lump-sum price or GMP. Think of a cost escalation clause as essentially a differing site conditions clause for materials.
Again, let's use a simple example. If you make leather shoes and the cost of leather is growing (for instance, due to some recent cow disease), you have to face cost escalation. Suddenly, you have to pay more to purchase the same amount of leather.
Cost escalation factors are calculated based on the base price, which is the cost of manufacturing a product. For example, if you create a website for $1000 and have a cost escalation factor of 10%, your final price will be $1100.
An escalation clause, or ?escalator,? is a section in a real estate contract that states that a prospective buyer is willing to raise their offer on a home should the seller receive a higher competing offer. The clause will state how much more the buyer is willing to pay than the highest offer and their spending limit.
A material price escalation clause adjusts the contract price based upon a certain metric, usually an objective index. Existing contracts that do not contain a price escalation provision can utilize a price escalation amendment if both parties agree.
Escalation is the provision in a cost estimate for increases in the cost of labor, equipment, material due to continuing price changes over time. Escalation is used to estimate the future cost of a project or to bring historical costs to the present.
A cost escalation clause allows the contractor to pass through to the owner the increase in the cost of materials despite agreeing to a lump-sum price or GMP. Think of a cost escalation clause as essentially a differing site conditions clause for materials.
The three most common types of cost escalation clauses are (1) any-increase escalation, (2) threshold escalation, and (3) delay escalation. An any-increase escalation claim entitles the contractor or supplier to reimbursement for the price increases that occurs after the execution of the contract.