Contracts

Contracts

Contracts of all sorts.

Industry: Law; Real estate

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Contracts

Potential termination liability

Law; Contracts

Sum of money (that includes all costs and fees) which a non-performing contracting party must pay to the other (aggrieved) contracting party. See also termination liability.

Cesser

Law; Contracts

1.Ceasing of a tenant to pay rent or perform legal duties for the space of two years. 2. Cessation,termination(of a term, liability,etc.).

Document used in sealed-bid procurement procedures through which a purchaser advises the potential suppliers of (1) statement and scope of work, (2) specifications, (3) schedules or timelines, (4) ...

Replacement

Law; Contracts

Substitution of an item with a similar or different, inferior or superior, item.

Rejected bid

Law; Contracts

Response to an invitation to bid (ITB) that is unacceptable, because (1) another bid has been chosen, (2) bid fails to fall within the established competitive range, (3) absence of competitive bids ...

Request for quotations (RFQ)

Law; Contracts

Document used in soliciting price and delivery quotations that meet minimum quality specifications for a specific quantity of specific goods and/or services. RFQ are usually not advertised publicly, ...

Release condition

Law; Contracts

A formal condition or set of conditions set forth by one party in an agreement which, when met, allows the other party to take a particular action, such as to exit the agreement. For example, a ...