not to exceed (NTE)

  

Definition

In contract negotiations, the commitment by the vendor that the value of an interim estimate (plus contingency allowances) will not exceed the amount of the firm proposal and estimates to be submitted at a later date. A NTE value, however, may be adjusted upward or downward depending on the changes in the scope of work or in the associated specifications.

Use not to exceed (NTE) in a sentence

Related Videos




http://www.businessdictionary.com/definition/not-to-exceed-NTE.html

Featured Sponsor

Have a question about not to exceed (NTE)? Ask for help in the
Community
advertise here

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z