Established actions and customs, implemented by parties of contract, for ensuring that a deal, which they have entered, is carried out systematically. The chief goal of contract process is to make sure

Kind of instrument sale in which, the seller keeps the instrument for a given period and after that, he buys it back, at an agreed upon price, from the original buyer.

Low carriage charge assured by a transporter for a prolonged period, provided that the customer commits to providing a large volume.

Deliveries obtained under a deal that covers a duration of one or more year.

1. Possibility of loss incurred due to the buyer abrogating the contract, and not because he is unable to pay. 2. Possibility of loss incurred from failure in deal performance. Vendors are

Settlement of a deal related affair or dispute.

Negotiated price of a deal which does not involve the price of any allowed but unpriced adjustments.

Negation of an entire deal or its most important portion. Negation of a part of work is known as partial termination.

Depending on the assumption that deals exist to define the anticipations of the primary while offering a clear explanation of how an agent would benefit provided the expectations are met and contains

Surplus of the actual deal price over the concluding price of a deal (includes remedial work and allowed changes).

The amount of the fundamental asset presented through a derivatives deal. For example, the unit of a fold contract signifies 100 ounces of gold. Also known as Trading Unit.

Final bargained or suggested cost of a deal.

Contract year is the amount of time between the effective date and the expiration date.

Level upto which the fulfillment of the requirements of a project

Owner of a project (also known as principal or client) or anyone else who gets into a deal with a builder or merchant and gets particular commodities or/and services as per the

Person who gets into a obligatory contract with one (or more) dealing parties and hence accepts the profits and responsibilities provided in it. For a deal to be legit, all dealing parties

It is a theory of macro-economy which describes an economy which does not operate at maximum employment equilibrium. The outcome of a gap of contractionary nature is a low degree of GDP

Policy which includes all kinds of risks related to a building project. Usually issued under the combined names of a builder and a client, normally it also contains insurance of public liability.

Stipulation in a deal which provides a contractor with the power to choose certain substances or methods out of a sanctioned list.

A convention sponsored by UN which lays down equal drafting rules pertaining to sales deals, and establishes the legal privileges and duties of both the buyer and seller as per these contracts.