Procurement Management.ppt 171v5x

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Memorize: Person/organization responsible for contract

should provide seller with formal written notice that contract is complete





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s the most serious form of breach of contract, in which the non-faulting party is

discharged from any further obligations under the contract



ë doctrine of law that recognizes the contractual relationship between a buyer and its

prime contractor



hanges for which the buyer and seller cannot agree on compensation. (laims,

disputes)

3

nducement provided by buyers to sellers in an attempt to bring the objectives of the

seller in line with the buyer.



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