Target Contract Clause Samples

A Target Contract clause defines the specific agreement or set of agreements that are the subject of a transaction, such as an acquisition, assignment, or novation. This clause typically identifies the contract by name, date, and parties involved, ensuring there is no ambiguity about which contract is being referenced. By clearly specifying the target contract, the clause helps prevent misunderstandings and disputes over the scope of the transaction, ensuring all parties are aligned on the contractual rights and obligations being transferred or affected.
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Target Contract. The contractor is paid a fixed fee on a prime cost basis for the work performed under the contract and in addition he receives a percentage on the savings effected against either a prior agreed estimated total cost or a target value arrived without changing the specification. • It was presumed that by proper management of the work, the contractor can reduce the cost of work. But due to tremendous increase in the cost of materials it never materialise and hence this system is not getting popularity. • Low risk on the owner, and to the contractor. • Cost can be reduced relatively. • Contractor selection is easy. • Tremendous increase in the cost of materials. • High quality can’t be achieved.
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Target Contract. Target Contract" shall mean any Contract: (a) to which any Target Company is a party; (b) by which any Target Company or any of their respective assets is or may become bound or under which any Target Company has, or may become subject to, any obligation; or (c) under which any Target Company has or may acquire any right or interest.
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Target Contract. The contractor is paid on cost plus percentage basis of work and in addition he receives a percentage plus or minus on savings or excesses effected against a prior agreed estimated by measuring the work on completion and valuing at prior agreed rates
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Target Contract. The contractor is paid on a cost-plus percent basis of work performed under this contract. • A target cost contract is an agreement between the contractor and a client wherein they negotiate a target cost based before signing the contract on an estimate of the expenses which will be incurred for the project. • A build-operate-transfer (BOT) contract is a model used to finance large projects, typically infrastructure projects developed through public-private partnerships. • The contractor undertakes to design, finance and operate and maintain the works for a concession period in consideration. • Invitation of tender/bid • Enquiry documents • Eligibility requirements to bid • Technical requirements for preparation and submission of the bid • Performance of the work under the contract • Preparation and submission of tenders • Tender documents – To be prepared by the tenderer and submitted • Evaluation, acceptance of the tender and award of contract • A Tender is a written document in which work details are mentioned. • It is a document which is publicly released or sent to eligible suppliers or contractor who are willing to fill it and take the work. • A tender document helps in a tendering process that helps a buyer select qualified and interested suppliers based on certain contract criteria. • Broadly this is pricing documentation and quality criteria. • Invitation of bid • Instruction to bidders • Information to bidders & bid data • Biding forms • General conditions of contract • Specific condition of contract • Specification • BOQ • Drawings • Contract forms • Tendering is the process of inviting bids for large projects, it is usually practiced by government institutions. • The main objective of the Tendering Process in Construction is to eliminate favoritism and corruption in awarding works to construction companies. ▇▇▇▇▇▇▇ ▇▇▇▇▇ ▇. Dept. of Civil Engineering, BMSCE Dept. of Civil Engineering, BMSCE • It is said to have occurred when one of the parties in the contract fails to fulfil his part of responsibilities under the contract due to which the complete performance of the contract becomes impossible and the contract breaks.
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Target Contract. In this system the contractor is paid on a cost plus percentage basis for work performed under this contract and in addition he receives a percentage plus or minus on saving or excess effected against either a prior agreed estimate of total cost or a target value arrived at by measuring the work on completion and valuing at prior agreed rates. The advantage of this contract is that contractor is encouraged to use his skill and experience in keeping the cost as low as possible. This type of contract is thus profitable to both the contractor as well as to the owner. The only disadvantage may be that the contractor may show higher cost of construction and thus may gain more amounts even covering the penalty for excess expenditure.
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Related to Target Contract

  • Project Contracts Prior to the delivery of this Lease, the Company may have entered into a contract or contracts with respect to the acquisition and/or construction of the Improvements. Those contracts, and any such contracts entered into by the Company after delivery of this Lease are hereinafter referred to as the “Project Contracts.” Prior to the delivery hereof, certain work has been or may have been performed on the Improvements pursuant to said Project Contracts or otherwise. Subject to the Lender’s rights in the Project Contracts, the Company hereby conveys, transfers and assigns to the Issuer all of the Company’s rights in, but not its obligations under the Project Contracts and the Issuer hereby designates the Company as Issuer’s agent for the purpose of executing and performing the Project Contracts. After the execution hereof, the Company shall cause the Project Contracts to be fully performed by the contractor(s), subcontractor(s) and supplier(s) thereunder in accordance with the terms thereof, and the Company covenants to cause the Improvements to be acquired, constructed and/or completed in accordance with the Project Contracts. Any and all amounts received by the Issuer, the Trustee or the Company from any of the contractors or other suppliers by way of breach of contract, refunds or adjustments shall become a part of and be deposited in the Project Fund.

  • Customer Contracts 6.2.1 The Redistributor should ensure that its contracts with its Customers give it all necessary rights to control and monitor Data use. 6.2.2 The Redistributor is obliged to make the contents of this Schedule available to its customers.

  • PUBLIC CONTRACTS AND PROCUREMENT FRAUD Contractor represents and warrants that, within the three (3) year period prior to this Contract, neither Contractor nor its principals or affiliates: (a) have been convicted of or had a civil judgment rendered against them for commission of fraud or a criminal offence in connection with obtaining, attempting to obtain, or performing a public (federal, state, local, or tribal) contract or purchase order under a public contract; (b) have been in violation of federal or state antitrust statutes or commission of embezzlement, theft, forgery, bribery, falsification or destruction of records, making false statements or receiving stolen property; (c) have been indicted for or otherwise criminally or civilly charged by a government entity (federal, state, local, or tribal) with commission of any of the offense enumerated in subsection (b) of this provision; or (d) had one or more public contracts (federal, state, local, or tribal) terminated for cause or default.

  • Government Contract Government Contract" shall mean any prime contract, subcontract, letter contract, purchase order or delivery order executed or submitted to or on behalf of any Governmental Body or any prime contractor or higher-tier subcontractor, or under which any Governmental Body or any such prime contractor or subcontractor otherwise has or may acquire any right or interest.

  • Material Contracts and Transactions Other than as expressly contemplated by this Agreement, there are no material contracts, agreements, licenses, permits, arrangements, commitments, instruments, understandings or contracts, whether written or oral, express or implied, contingent, fixed or otherwise, to which Pubco is a party except as disclosed in writing to Priveco or as disclosed in the Pubco SEC Documents.