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A standard specification is an explicit set of requirements for an item, material, component, system or service. It is often used to formalize the technical aspects of a procurement agreement or contract. [2] For example, there may be a specification for a turbine blade for a jet engine that defines the exact material and performance requirements.
The terms performance-based and results-based are mostly used interchangeably. The latter may signal more the achievement of broader social and economic outcomes Performance-based contracting is the term used in Australia, New Zealand and Canada to describe the practice of attaching contract payment to a set of performance metrics.
The term "personal services contract" means a contract with express terms or administration which makes the contractor personnel appear effectively to be Government employees. Such contracts are prohibited by the FAR (Subpart 37.104) excepting where specifically authorized by statute.
This contract is not generally used for constructing new works, but can include some amount of betterment. There is also a "Term Service Short Contract" where the project is a relatively low risk project and/or the work is primarily re-active. It is an abbreviated version of the main TSC. Supply Contract/Short Supply Contract (SC/SSC)
Each category is run as a "mini business" (business unit) in its own right, with its own set of turnover and/or profitability targets and strategies.Introduction of Category Management in a business tends to alter the relationship between retailer and supplier: instead of the traditional adversarial relationship, the relationship moves to one of collaboration, with exchange of information ...
Total expense increased 1.3%. Since we lapped the first year of our labor contract at the end of July, this was the first full quarter at a lower contractual union wage growth rate.
Business requirements, also known as stakeholder requirements specifications (StRS), describe the characteristics of a proposed system from the viewpoint of the system's end user like a CONOPS. Products, systems, software, and processes are ways of how to deliver, satisfy, or meet business requirements. Consequently, business requirements are ...
Within the context of a high-performance payment system, a secure payment will cite the hash of the contract of the instrument being paid, as well as paying and payee parties and a quantity of units. [6] In a smart contracts system, the acceptance would be performed by operating the contract's code to move the state of the agreement forward.