How Do You Spell ADJUSTMENT PROVISION?

Pronunciation: [ɐd͡ʒˈʌstmənt pɹəvˈɪʒən] (IPA)

The spelling of "ADJUSTMENT PROVISION" is quite straightforward using the International Phonetic Alphabet (IPA). The word "ADJUSTMENT" is spelled /əˈdʒʌstmənt/ with the schwa sound at the beginning, followed by the dʒ sound, then a short u sound and finally the word ends with the st sound. The word "PROVISION" is spelled /prəˈvɪʒən/ with the schwa sound at the beginning, followed by the v sound, then a short i sound, a zh sound and finally the word ends with the n sound. Together, they result in a word that refers to a section in a legal contract dealing with possible future changes.

Meaning and Definition
Etymology
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ADJUSTMENT PROVISION Meaning and Definition

  1. An adjustment provision refers to a clause or provision included in a contract, agreement, or policy that allows for modifications or changes to be made in certain circumstances. This provision is specifically designed to address situations where the existing terms or conditions of the agreement may require alterations or revisions.

    In contractual agreements, an adjustment provision may be implemented to mitigate potential conflicts or disputes that may arise due to unforeseen events or changes in circumstances. It typically enables the parties involved to renegotiate certain terms, such as the price, quantity, delivery date, or other specifications, to account for unexpected occurrences that might affect the original agreement.

    Adjustment provisions are commonly found in purchase agreements, insurance policies, lease contracts, and construction contracts. They play a crucial role in ensuring fairness, flexibility, and adaptability in these agreements. For instance, in a construction contract, an adjustment provision may allow for changes to the project scope, timeline, or cost, if unforeseen circumstances, such as weather conditions or unforeseen site conditions, impact the original plan.

    The implementation and application of an adjustment provision depend on the agreement and the specific language included in it. It is typically subject to certain conditions, such as notice requirements, timeframes for requesting adjustments, and provisions for dispute resolution.

    Overall, an adjustment provision serves as a mechanism to address changes and uncertainties that may arise during the course of an agreement, allowing for necessary modifications to be made in a transparent and fair manner.

Etymology of ADJUSTMENT PROVISION

The etymology of the word "adjustment provision" can be broken down as follows:

1. Adjustment: The word "adjustment" originated from the Latin verb "ad(j)ustare", which means "to make straight". It comes from the combination of the prefix "ad", meaning "to" or "towards", and "justus", meaning "just" or "right". Over time, "ad(j)ustare" evolved into Old French "ajuster", which means "to fit" or "arrange". In English, "adjustment" refers to the act of modifying or adapting something to fit or align correctly.

2. Provision: The word "provision" originated from the Latin noun "provisio", derived from the verb "providere", meaning "to foresee" or "to provide".