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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

main contractor

Law; Contracts

This is an alternative term for prime contractor.

lump sum contract

Law; Contracts

A contract under which a principal (customer or owner) agrees to pay a contractor a specified amount for completing work without requiring a cost breakdown.

maintenance bond

Law; Contracts

Legally enforceable written agreement whereby a contractor or craftsman guarantees against defects in workmanship and/or materials for a certain period after completion of a ...

maintenance contract

Law; Contracts

Fixed fee service provided by a contractor for periodic maintenance of a buildings or equipment.

maintenance of membership clause

Law; Contracts

Provision included in some collective bargaining agreements under which employees who are members of the union at the time of the negotiation of the agreement (or voluntarily join ...

make-up agreement

Law; Contracts

This is an alternative term for deficiency agreement.

management contract

Law; Contracts

Agreement between investors or owners of a project, and a management company hired for coordinating and overseeing a contract. It spells out the conditions and duration of the ...