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A subcontractor is a person or business which undertakes to perform part or all of the obligations of another's contract, and a subcontract is a contract which assigns part of an existing contract to a subcontractor. A general contractor, prime contractor or main contractor may hire subcontractors to perform specific tasks as part of an overall ...
The prime contractor term was already defined before the 8 March 1946 passage of An Act To eliminate the practice by subcontractors, under cost-plus-a-fixed-fee or cost reimbursable contacts of the United States, of paying fees or kick-backs, or of granting gifts or gratuities to employees of a cost-plus-a-fixed-fee or cost reimbursable prime ...
Contracts directly between the Government and its contractors ("prime contracts") are governed by federal common law. Contracts between the prime contractor and its subcontractors are governed by the contract law of the respective states. Differences between those legal frameworks can put pressure on a prime contractor. [citation needed]
Prime contractor may refer to: Prime contractor (US Government) , a specific term in the US law for contractors that work directly with the US government Prime contractor, a synonym of general contractor that works directly with an end customer [ citation needed ]
With $48.666 billion in business with the U.S. federal government, Lockheed Martin, based in Bethesda, Maryland, is the largest U.S. federal government contractor. The Top 100 Contractors Report (TCR 100) is a list developed annually by the General Services Administration as part of its tracking of U.S. federal government procurement.
The Severin doctrine, established in the 1943 case Severin v.United States, 99 Ct. Cl. 435, is a legal principle in United States federal contract law.It stipulates that a prime contractor cannot sue the federal government to recover damages incurred by a subcontractor unless the prime contractor is liable to the subcontractor for those damages.
Lockheed Martin, which is the prime contractor, ... and F-35 production is spread across various districts and subcontractors. This story was originally featured on Fortune.com ...
A contractor progress payment schedule is a schedule of when (according to project milestones or specified dates) contractors and suppliers will be paid for the current progress of installed work. Progress payments or interim payments are partial payments for work completed during a portion of a construction period, usually a month.
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