Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
Contract close-out:
Contract close-out begins with checking for physical completion, i.e., whether all services have been performed and products delivered. Closeout of a contract is completed when all administrative actions have been completed, all disputes settled, and final payment has been made. Contract close-out comprises both "physical close-out? and "financial close-out?. Physical close-out is achieved when contractor has completed all his physical work obligations as per the contract including rectification of all defects/deficiencies jointly identified by both parties.
Financial close-out is achieved when all amounts payable to and recoverable from the contractor are reconciled and the final payment is made to the contractor.
The amounts will cover many aspects like reconciliation of materials issued to/returned by contractor, recoveries for back charges, Liquidated Damages (LD) and so on. In summary, completion of all contractual obligations needs to be agreed by both parties after which the contractor submits the following certificates:
In case dispute remains, the dispute is referred to arbitration in accordance with the contract provision and contract close-out is made on the basis of the arbitrator's award.
QUESTION Suppose you are the Chief Information Officer (CIO) of a multi-national organization and you are making a case to the organization's management for the implementation
Question: The Tourist Area Life Cycle as given by Butler (1980) is one of the most popular models which have been used and applied to study the evolution and development of de
Question 1 The event manager plays a pivotal role in event management company. Discuss his role and explain the important steps he has to take to ensure a successful event
Origin and Development of Internet The Internet has its origins in a network called the 'ARPA net, developed in the early 1970s by the Advanced Research Projects Agency (ARPA)
Hi there i need help in case study assignment. Thanks
case study solution for competent motors limited case
QUESTION The potential relevance of the concept of a destination life cycle has been examined in a number of studies. The model has apparent potential to advance theory and pra
Question: (a) What do you understand by the term ‘An Organization'? (b) Differentiate between ‘A Formal Organization' and ‘An Informal Organization' (c) List three fac
Methods Following is a brief description of the prevalent methods of stock taking. Stock Verification by Accession Numbers: The accession numbers of the books from t
Prussian Instructions: The Prussian instructions. Rules for the alphabetical catalogues of the Prussian libraries l translated from the 2nd edition, authorized, 1908; with an
Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!
whatsapp: +91-977-207-8620
Phone: +91-977-207-8620
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd