conditions of contract definition

conditions of contract

Terms and conditions that set the rights and obligations of the contracting parties, when a contract is awarded or entered into. These include 'general conditions' which are common to all types of contracts, as well as 'special conditions' which are peculiar to a specific contract (such as, contract change conditions, payment conditions, price variation clauses, penalties).

conditions of contract is in the Agreements & Contracts and Purchasing & Procurement subjects.

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