Contracts

Contracts

Contracts of all sorts.

Industry: Law; Real estate

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Contracts

Physical completion

Law; Contracts

State of project where it is functioning, but has not yet started to generate cash flows.

Project delivery system

Law; Contracts

Method by which a project is contracted for construction, such as design-build, design-bid-build, design-build-operate, turnkey.

Professional services contract

Law; Contracts

Agreement to provide professional or management consulting services such as administration, designing, feasibility studies, or legal or technical advice.

Project owner

Law; Contracts

Entity that initiates a project, finances it, contracts it out, and benefits from its output(s). Also called just owner.

Solicited or unsolicited submission by one party to supply (or buy) certain goods or services to (or from) another. Unlike an offer, a proposal is not a promise or commitment but, if accepted by the ...

Project financing

Law; Contracts

Loan arrangement in which the repayment is derived primarily from the project's cash flow on completion, and where the project's assets, rights, and interests are held as collateral.

Progressive payments

Law; Contracts

Part payments made to a contractor at different stages as the work (or delivery) progresses, instead of making one full payment on the completion. Also called progress payments.