Contracts

Contracts

Contracts of all sorts.

Industry: Law; Real estate

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Contracts

Open competitive bidding

Law; Contracts

Competitive bidding in which the bid opening is conducted at a public venue, and in the presence of all who may wish to witness the opening of the received sealed bids.

Cost per unit of a product or service, or the annual cost incurred on a continuous process. Operating costs do not include capital outlays or the costs incurred in design and implementation phases of ...

Open contract

Law; Contracts

Whose terms do not constitute the entire agreement between the contracting parties and whose clauses or provisions can be changed or modified without mutual consent. Some construction and supply ...

Open tender

Law; Contracts

A bidding process that is open to all qualified bidders and where the sealed bids are opened in public for scrutiny and are chosen on the basis of price and quality. Also called competitive tender or ...

Open end contract

Law; Contracts

Agreement to supply goods or services in which quantity to be supplied at the contracted price is not specified, and the buyer may purchase any amount during the life of the agreement.