Contracts

Contracts

Contracts of all sorts.

Industry: Law; Real estate

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Contracts

Option to renew

Law; Contracts

Provision in a contract under which the buyer, lessee, or obligor has the choice of reinstating the concluded-contract for another term.

Optimal contract

Law; Contracts

A contract between parties that minimises the costs as much as possible for all involved.

Or equal

Law; Contracts

Contract term meaning that a substitute must be equal in all relevant respects to the specified item.

A written guaranty from a third party guarantor (usually a bank or an insurance company) submitted to a principal (client or customer) by a contractor on winning the bid. A performance bond ensures ...

Performance specification

Law; Contracts

Written requirement that describes the functional performance criteria required for a particular equipment, material, or product. In contrast, a design specification describe design characteristics ...