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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.
DOE energy savings performance contracts help Federal agencies meet energy efficiency, renewable energy, water conservation, and emissions reduction goals by streamlining contract funding for energy management projects. The streamlined financing provides multiple benefits, including: Increased quality and value through:
Specific performance is an equitable remedy in the law of contract, in which a court issues an order requiring a party to perform a specific act, such as to complete performance of a contract. [1] It is typically available in the sale of land law , but otherwise is not generally available if damages are an appropriate alternative.
A performance bond, also known as a contract bond, is a surety bond issued by an insurance company or a bank to guarantee satisfactory completion of a project by a contractor. The term is also used to denote a collateral deposit of good faith money, intended to secure a futures contract, commonly known as margin.
Unilateral contracts are contracts in which one party offers a promise in exchange for an actual performance. Traditionally, such contracts were deemed to be effective once the specified performance was tendered, and could be revoked at any time prior to completion of the performance, presenting the notorious "Cedric Brooklyn Bridge problem ...
Performance-based logistics (PBL), also known as performance-based life-cycle product support, [1] is a defense acquisition strategy for cost-effective weapon system support which has been adopted in particular by the United States Department of Defense.
An annuity is a contract issued by an insurance company that pays a stream of income for a specified period or often for the remaining life of the contract holder.
A cost-plus contract is often used when performance, quality or delivery time is a much greater concern than cost, such as in the United States space program. [9] Cost plus contracting was expanded to include services such as engineering, consulting, and a variety of other such efforts in the 1980's.
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