Define: Current Number

What Current Number Means in a Contract

Current Number is a defined term used to anchor a contract's calculations to a specific, verifiable data point published by an external body, typically a statistical bureau, regulator, or industry association referred to in the agreement as the Relevant Bureau or Agency. Rather than leaving pricing, escalation, or performance benchmarks to negotiation each time, the parties agree in advance that whatever figure this body has most recently published will govern.

This mechanism is common wherever a contract needs to track something that changes over time, such as inflation, wage indices, commodity prices, or sector-specific benchmarks. By defining Current Number precisely, the contract removes ambiguity about which figure applies at a given moment, particularly important when the underlying index is updated periodically and older figures remain publicly accessible alongside newer ones.

How Current Number Is Defined or Measured

The definition typically specifies three things: the identity of the publishing body, the frequency or timing of publication, and the precise moment at which a published figure becomes the applicable Current Number for contractual purposes. For example, a clause might state that the Current Number is the index figure published for the calendar month immediately preceding a payment date.

Measurement disputes often arise not over the number itself but over timing, particularly when a bureau revises figures after initial publication or issues provisional and final versions. Well-drafted contracts anticipate this by specifying whether the.