Contracts

Contracts

Contracts of all sorts.

Industry: Law; Real estate

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Contracts

Informal bid

Law; Contracts

Unsealed competitive bid submitted by letter, fax, or email, in response to an invitation to bid (ITB).

Ineligible bidder

Law; Contracts

Contractor, supplier, or vendor who cannot be included in the qualified bidders list because of its financial inability, lack of required experience, history of unsatisfactory performance, poor ...

Informal contract

Law; Contracts

Agreement that is not (or need not be) in a prescribed format to be legally valid and binding.

A provision in a contract required by regulation as a prerequisite to obtaining credit for reinsurance where the reinsurer agrees to pay for obligations under the contract regardless of whether the ...

Inducement

Law; Contracts

1. Contracting: Advantage, benefit, or consideration that causes a party to enter into a binding agreement, or motivates it to perform more efficiently and cost effectively. 2. Law: (1) Persuasion by ...

Inspection clause

Law; Contracts

Provision in a supply contract under which the customer has the right to test or inspect all goods upon delivery (or during manufacture) to detect defects in materials, workmanship, or other ...

Innominate term

Law; Contracts

Contractual term that may turn out to be either a condition (is integral to the contract) or a warranty (is incidental to the contract) depending on its effect on the injured or innocent party. See ...