Define: True-Up
True-Up means adjusting amounts owed between two parties annually, related to a specified project or mechanism.
True-Up means adjusting amounts owed between two parties annually, related to a specified project or mechanism.
Relevant Circumstances
- When estimated payments need to be reconciled against actuals at year end
- If a contract requires annual adjustments for usage, costs or revenue share
- Where commercial fairness depends on retrospective accounting between the parties