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Law

Of or pertaining to the system of rules which a particular country or community recognizes as regulating the actions of its members and which it may enforce by the imposition of penalties.

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Law > Contracts

qualified

Law; Contracts

Entity that has acquired a recognized certificate, degree, or professional standing and/or has demonstrated the ability to handle and successfully completes qualifying tasks.

qualified bidder

Law; Contracts

Potential bidder who meets the minimum standards of experience, financial ability, managerial ability, reputation, and work history for a specified class of goods, services, or ...

qualified equipment

Law; Contracts

That is certified by appropriate authority as conforming to the relevant specifications and safety requirements.

naked contract

Law; Contracts

Agreement without a consideration, hence just a promise. Naked agreements (unless made by a deed) are not binding in law, and are called 'nudum pactum' (Latin for, naked contract) ...

negotiated agreement

Law; Contracts

This is an alternative term for negotiated contract.

negotiated procedure

Law; Contracts

Method of obtaining bids under which only chosen suppliers are invited to negotiate a contract. This procedure is used usually in special cases such as in situations of ...