Federal Contracting Activities and Contract Types Sandra Greene BUS 315 Dr. Lena Maslennikova 10 December‚ 2012 Federal Contracting Activities and Contract Types This paper will discuss Booz Allen Hamilton. It will briefly discuss its history and then go into who they are today. Finally‚ it will cover a major contract that they have recently acquired along with a few particulars of that contract. Edwin G. Booz started his first
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Types of Contracts [pic] Choosing type appropriate contract type is essential to successful performance under a contract. The type of contract determines the cost and performance risks which are placed on the contractor. There are two broad contract groups--fixed price and cost reimbursement. Within each of these groups‚ there are various types of contracts which can be used individually or in combination. [pic] Firm Fixed Price Contracts [pic] This type of contract requires the contractor
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1. Voidable Contract: An agreement which is enforceable by law at the option of one or more of the parties thereto‚ but not at the option of the other or others‚ is a voidable contract. A contract is voidable when one of the parties to the contract has not exercised his free consent. One of the essential elements of a formation of a contract for example‚ free consent‚ is absent. All voidable contracts are those which are induced by coercion fraud or misrepresentation. The person whose consent is
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TYPES OF CONTRACTS The risk shared between the buyer and seller is determined by the contract type. Although the firm-fixedprice type of contractual arrangement is typically the preferred type which is encouraged and often demanded by most organizations‚ there are times when another contract form may be in the best interests of the project. If a contract type other than fixed-price is intended‚ it is incumbent on the project team to justify its use. The type of contract to be used and the specific
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What is a contract? A business contract is a legally binding agreement between two or more parties to do or not to do certain things. For example‚ a business contract could be for the sale of goods or supply of services at a certain price. There are many different types of contracts including: the sale and purchase of a business agreement; partnership agreements; leases of business premises; leases of plant and equipment; and employment agreements. The process for creating a contract generally
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Entering and contracting Entering and contracting are the initial steps taken in the OD process‚ and is considered by many as one the most important steps of the process. The entering and contracting step will be utilized to set the pace and lay the foundation for the practitioner client relationship. They involve a preliminary evaluation of the organization’s opportunities for development‚ while establishing a collaborative relationship between the OD practitioner and the members of the client
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TYPES OF PROCUREMENT CONTRACTS 1.0 INTRODUCTION Sollish et al (2011) states that the decision over what contract type to use is one of the most important strategic decisions; because the type of contract has an influence on how the contractor is paid and the risk allocation between the contracting parties. In making such a decision the goal should be to get the optimum project objective attainment likelihood. 2.0 CONTRACT TYPES According to Sollish et al (2011)‚ there are two major types
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fruit juice‚ vegetables‚ stationary and 2 dresses. She puts these items into her shopping trolley. Has a contract been made between Tesco Store and Belinda at this point? Give reasons for your answer. An offer is an expression of willingness to contract on a specific set of terms‚ made by the seller with the intention that‚ if the offer is accepted‚ he or she will be bound by a contract. Both offer and invitation to treat are totally different. Invitation to treat is an invitation for other people
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Running Head: Ethics and Contracting Ethics and Contracts Strayer University October 23‚ 2011 Abstract The question‚ “Does Business and Ethics Still Exist?” has generally caused honest business owners and also government agencies to ponder this notion. Even though the Federal Acquisition Regulation (FAR) is established in order to prevent unethical practices by contractors and government agencies failing to abide by this regulation‚ does not mean everyone it pertains
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EMPLOYMENT CONTRACTS type of contract definition permanent contract An employee who has been hired and paid directly by that employer for a position without a predetermined time limit. contract with employer period benefits yes without time limit all from employer yes time limit: date rarely‚ in NL all except pension in some cases yes time limit: date‚ task‚ project‚ by law (maternity leave f.e.) rarely yes time limit rarely no‚ work agency
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