“Can I Get That in Writing?”

That is a phrase we use with regard to many different areas, however we may be overlooking one very important area – contract escalators.

Often, annual escalator provisions are not executed by both parties, formally in writing. In many cases they just go into effect on a specific anniversary date.

We should be receiving formal documentation regarding pricing changes. In fact any pricing change should only be enacted when it is presented as an amendment/addendum and signed by an authorized member of the firm.