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In 1949, the company worked with designer Russel Wright to develop "Meladur", a melamine dinnerware. [3] Effective January 1, 2000, General American Transportation Corporation was renamed GATX Rail Corporation, a unit of GATX Corporation. [4] In 2004, the company sold its technology-leasing unit to CIT Group for about $200 million in cash. [5]
The owner, often referred to as the 'employer' or the 'client', [1] has full authority to decide what type of contract should be used for a specific development to be constructed and to set out the legally-binding terms and conditions in a contractual agreement. [2] A construction contract is an important document as it outlines the scope of ...
Engineering, procurement, and construction (EPC) contracts (a type of turnkey contract) are a form of contract used to undertake construction works by the private sector on large-scale and complex infrastructure projects. [1] They may follow a Front-End Engineering and Design (FEED) contract.
In traditional construction contracts (known as design–bid–build contracts) the principal contractor is only engaged when a detailed design is complete. An invitation to tender is published and a number of contractors will price the construction of the design, from which a single winner will be chosen to complete the works. Contractors are ...
Contract management or contract administration is the management of contracts made with customers, vendors, partners, or employees.Contract management includes negotiating the terms and conditions in contracts and ensuring compliance with the terms and conditions, as well as documenting and agreeing on any changes or amendments that may arise during its implementation or execution.
The General American Marks Company is a part of GATX Corporation, formerly the General American Transportation Company, headquartered in Chicago. GATX Corporation owns businesses that lease railcars , locomotives , and aircraft .
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