Contracts

Contracts

Contracts of all sorts.

Industry: Law; Real estate

Add a new term

Contributors in Contracts

Become a Contributors

Contracts

Perfect tender

Law; Contracts

Performance of a supply contract through the timely and full delivery of goods that meet the customer specifications.

Penalty clause

Law; Contracts

Provision in a contract that imposes a specified sum on the defaulting contracting party for a specified default.

Procurement requirement

Law; Contracts

Estimated number or amount of an item (or group of items) from which number or amount on-order as well as on-hand is deducted.

1. Law: (1) A party who designates another (the agent) to act on his or her behalf. (2) A party that has the primary responsibility in a liability or obligation, as opposed to an endorser, guarantor, ...

Procuring authority

Law; Contracts

Entity designated and authorised to issue purchase orders and to coordinate purchasing activities.

Procurement request

Law; Contracts

Contract document that describes the good or service to be obtained, and on the basis of which a procurement action is initiated. When combined with specifications, statement-of-work, and data ...

Prime contractor

Law; Contracts

Chief contractor who has a contract with the owner of a project or job, and has the full responsibility for its completion. A prime contractor undertakes to perform a complete contract, and may ...