Meaning Area-Rate Clause
What does Area-Rate Clause mean? Here you find 3 meanings of the word Area-Rate Clause. You can also add a definition of Area-Rate Clause yourself
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Area-Rate ClauseIn a long term oil and gas contract, area-rate clause is a price-escalation provision. This clause permits an automatic increase in the contract price if any regulatory authority or agency permits an [..]
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Area-Rate ClauseAn indefinite price escalation clause found in some long-term gas contracts that provides or increases the contract price if any regulatory agency permits or prescribes a higher price for gas sold in the same area. Under the regulatory scheme of the Natural Gas Act, from 1961 to 1978, maximum prices were set by the Federal Power Commission (FPC) an [..]
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Area-Rate Clause An indefinite price escalation clause found in some long-term gas contracts that provides for an increase of the contract price if any regulatory agency permits or prescribes a higher price for gas [..]
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