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Contracts
Contracts of all sorts.
Industry: Law; Real estate
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Contracts
Profit objective
Law; Contracts
That part of a procurement contract price which the buyer and seller try to negotiate as the appropriate level of profit for the seller.
Ratchet clause
Law; Contracts
1. Contracts: Provision under which the contract-associated rights of the involved parties are adjusted according to an agreed upon formula upon completion of a part or stage of the contract. 2. ...
Reasonable payment
Law; Contracts
That, in its amount and nature, is consistent with the payments normally made for the same or similar goods or services.
Reciprocal agreement
Law; Contracts
1. General: Quid pro quo arrangement in which two or more parties agree to share their resources in an emergency or to achieve a common objective. 2. Data backup: Whereby two departments or ...
Quotation expiration date
Law; Contracts
Placed on a quotation for products or services after which the quoted price is no longer enforceable. Some quotes eliminate the need for a quotation expiration date by including a phrase advising ...
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