Home > Terms > English, UK (UE) > Limitation of funds clause

Limitation of funds clause

Provision in 'cost-reimbursement' type contracts under which a contractor must issue a written notification to the principal (customer), when the estimated total cost of the project or work is expected to be either higher or significantly lower than the funds allocated by the customer.

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  • Part of Speech: noun
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  • Industry/Domain: Law
  • Category: Contracts
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