TYPES OF CONTRACTS The risk shared between the buyer and seller is determined by the contract type. Although the firm-fixedprice type of contractual arrangement is typically the preferred type which is encouraged and often demanded by most organizations‚ there are times when another contract form may be in the best interests of the project. If a contract type other than fixed-price is intended‚ it is incumbent on the project team to justify its use. The type of contract to be used and the specific
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Types of Contracts [pic] Choosing type appropriate contract type is essential to successful performance under a contract. The type of contract determines the cost and performance risks which are placed on the contractor. There are two broad contract groups--fixed price and cost reimbursement. Within each of these groups‚ there are various types of contracts which can be used individually or in combination. [pic] Firm Fixed Price Contracts [pic] This type of contract requires the contractor
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1 Elements of a Contract Moses Parker BUS 670: Legal Environment Porf. Stacey Callaway October 6‚ 2014‚ 2014 ELEMENTS OF A 2 Elements of a Contract Indeed‚ contracts plays a very significant role in all aspects of society; according to Nysten & Lehto‚ (2012)‚ “Business people often understand contracts as legal documents‚ designed by lawyers in
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What is a contract? A business contract is a legally binding agreement between two or more parties to do or not to do certain things. For example‚ a business contract could be for the sale of goods or supply of services at a certain price. There are many different types of contracts including: the sale and purchase of a business agreement; partnership agreements; leases of business premises; leases of plant and equipment; and employment agreements. The process for creating a contract generally
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of the report is to discuss the theory of psychological contracts in organizational employment and to see its evolution by discussing various theories of different authors‚ its present form‚ issues related to it and its importance in training and apprenticeship programs. This report basically discusses both the theoretical and practical aspects of psychological contract. This report shows how that how the concept of psychological contract has evolved and what different authors have said about this
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Contract Performance Joseph Dorow Strayer University BUS 501 Government Acquisition Instructor: Dr. Vic Villarreal December 2012 Contract Performance Summarize the report‚ with particular attention to the issue of contract performance. I chose the report with a Lancer Clothing Corporation protest alleging “Workroom for designers does not have a commitment for the lining material supplier who is reputable‚ and that it lacks sufficient production capacity. Lancer also alleges that the principal
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10 CONTRACT LABOUR IN INDIA INTRODUCTION 10.1 The system of employing contract labour is prevalent in most industries in different occupations including skilled and semi skilled jobs. It is also prevalent in agricultural and allied operations and to some extent in the services sector. A workman is deemed to be employed as Contract Labour when he is hired in connection with the work of an establishment by or through a contractor. Contract workmen are indirect employees; persons who are hired‚ supervised
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Contract between MAANO TECHNICAL SERVICES CC (Builder) Represented by Mr. Herman Lukas And Mr. Joao de Sousa Satata (Client) Represented by Mr. Zenildo Calueto For THE CONSTRUCTION OF AN OUTBUILDING AT ERF 1387‚ MOUNTAIN THORN STREET‚ DORADO PARK‚ WINDHOEK – NAMIBIA. CONTRACT BETWWEN THE OWNER AND THE BUILDER CONTENTS SECTION 1. Articles of Agreement. SECTION 2. General Information. SECTION 3. Standard Conditions of Contract. Section 1 ARTICLES OF AGREEMENT ARTICLES OF
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Essentialia The contract of employment is an agreement between two parties in terms of which one party (Mr. Phage) places his labour potential at the disposal and under the control of the other party (Lifeline services)‚ in exchange for some form of remuneration. From this definition‚ it is clear that the essentialia of a contract of employment are 1. Work and 2. Remuneration. This contract does not meet the requirement for work because even though an ambiguous job title of ‘General Worker’
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Contract Classification | Basis of Defect | Status of Contract | Legal Effects | Prescriptive Period | Ratifiability | A.Rescissible1. Contracts entered into in behalf of wards 2. Contracts agreed upon in representation of absentees 3. Contracts undertaken in fraud of creditors a. existing credit prior to the contract to be rescinded b. fraud on the part of the debtor c. creditor cannot recover his credit in any other manner 4. Contracts which refer to things under litigation
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