Dictionary of Procurement Terms

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Search Results: 211-220 of 353 results for “C”

  • Contract Administration

    The functions that are performed after the parties have signed the contract. Typical contract administration activities are goal oriented and are aimed at ensuring compliance with the contract terms and conditions while giving attention to the achievement of the stated output and outcome of the contract.

    See Also: Contract Management, Surveillance

  • Contract Administration Plan (CAP)

    A planning tool that provides the framework for effective contract administration with an emphasis on process, output and outcome. The length and detail of the CAP depends on the complexity and potential risk of the contract. Also referred to as Contract Acquisition Plan.

  • Contract Administration Team

    A cross-functional team comprised of such members as the procurement contracting officer (or their representative), subject matter expert, information technology and engineering representatives, legal advisers, price and cost analysts, quality assurance specialists, and others who offer their expertise to the contract. Such a team is generally used on complex projects. This team may also assist in resolving conflicts that arise during the contract performance.

  • Contract Amendment

    An agreed addition to, deletion from, correction, or modification of a contract.

    See Also: Contract Modification

  • Contract Amount/Value

    Total dollar amount negotiated between buyer and seller. Identified in the contract for purchase of goods and/or services.

  • Contract Award

    The final agreement on the terms and conditions of a contract between a buyer and seller.

  • Contract B – Traditional Contract

    CANADA The actual performance contract. A submitted bid or proposal is normally viewed as a supplier's offer to enter into Contract “B” with the buyer. Once the buyer has evaluated the bids or proposals, accepts one of these offers and executes a contract, Contract “B” is formed between the parties. Contract “B” usually specifies the actual work to be performed by the contractor in delivering the goods, services and/or construction, and the buyer's obligations to pay for the goods, services and/or construction if provided according to the terms of the contract. (British Columbia, 2016)

  • Contract Carrier

    A person or company that is under contract to transport people or goods for individual contract customers only.

    See Also: Common Carrier, Private Carrier

  • Contract Ceiling

    Maximum amount available for payment of cost and fee, which the contractor cannot exceed without approval of the purchasing authority.

  • Contract Commencement Date

    The date on which all parties accept a contract thereto; the date of contract award. May be referred to as contract date. (Harney, 1992)