Common use of Automatic Increase Clause in Contracts

Automatic Increase. Refers to automatic updating of the amount of saving at the end of a period of 12 months by the average of CPI (Consumer Prices Index) - PPI (Producer Prices Index) rate published on yearly basis or by a yearly increase rate to be preferred by the Customer. Conditional Instruction and/or Automatic Increase options are defined by choices of the Customer or the third parties giving the Saving Instruction. The term “Flexible Saving Account”, whenever used in the body of this Agreement, refers to both the Primary Flexible Saving Account opened in the name of the Customer, and the Flexible Saving Account opened in the name of a third party.

Automatic Increase. Refers to automatic updating of the amount of saving at the end of a period of 12 months by the average of CPI (Consumer Prices Index) - – PPI (Producer Prices Index) rate published on yearly basis or by a yearly increase rate to be preferred by the Customer. Conditional Instruction and/or Automatic Increase options are defined by choices of the Customer or the third parties giving the Saving Instruction. The term “Flexible Saving Account”, whenever used in the body of this Agreement, refers to both the Primary Flexible Saving Account opened in the name of the Customer, and the Flexible Saving Account opened in the name of a third party.