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Q: What is the sum of all performance budgets established for the contract?
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All budgets depend on the sales budget?

Yes, all budgets depend on sales budgets because budgets can't exceed the amount of available money. When sales are poor, the budgets will be smaller.


What information should the COR know about the contract in order to adequately monitor contractor performance?

What basic information should the COR know about the contract in order to adequately monitor contractor performance? All


What is the meaning of the term performance?

Performance means the accomplishment of a given task measured against preset known standards of accuracy, completeness, cost, and speed. In a contract, performance is deemed to be the fulfillment of an obligation, in a manner that releases the performer from all liabilities under the contract.


How can a contract be discharged?

Discharge usually results from performance but can occur in other ways: i. the occurrence or failure of a condition which a contract is based; ii. breach of contract; iii. by agreement of the parties; and iv. by operation of law


What is difference between Statement of works and a contract statement of work?

The differences between a Statement of Work and a Contract statement of work. The Ã?Statement of WorkÃ? covers all requirements, the performance and the design requirements for a particular project. It also defines what the responsibilities, work agreements and liabilities that are established between the clients and the service provider. A Ã?Contract Statement of WorkÃ? is a description of services, products or the end result as described in a contract.


What basic information should the COR know about the contract in order to adequately monitor contractor performance?

All of the answers are correct


The concept of substantial performance permits a party to be dicharged from a contract even though the party has not fully performed his or her obligations according to the contract's term.Is it fair?

Before you can find if the party is entitled to a recovery for the other parties breach of contract, I believe one should look and find out what the party accually performed from the contract, according to all of the particulars in the contract. Substanital performance implies that one of the parties has done work required of it, carefully and in good faith. Completing the work required of the contract (expected from them) in all materials, respects and having done so, then it should not be unreasonable not to rule infavor of the party that completed the work. In order for a substantial performance to occur there has been an approximation to complete performance that the owner obtains substationally. The other party in the performance must not have deprived the other party in any way other than the intend use of teh property. The issue of substantial performance can be raised in all types of contracts. Often construction contracts include substantial performance as a condition for payment. Because substantial performance is less than full performance, it does not completely discharge the duty to perform. When considering nominal damages in the context of substantial performance, it is important to know what level of deviation will still fall under substantial performance, and the extent, degree and value of the nonperformance. Performance that falls short of being labeled substantial may justify nonpayment but not cancellation of the contract. This chapter discusses substantial performance as a defense, and the method of pleading it.


Why all government budgets levy a heavy tax on cigarettes and liquor?

All government budgets levy a heavy tax on Cigarettes and liquor"


Is an insurer liable if a contractor he has given a performance bond dies without performing?

The insurer is liable in all cases where the contract to preform the work is enforceable. If the contract (not the bond) has an escape clause for death, then no.


Who is responsible for providing all resources needed for performance of a Government contract?

The contractor is responsible for providing all necessary resources. See FAR 32.202-1


Budget manual should be compiled after all budgets have been set.true or false?

Budget manual should be compiled after all budgets have been set.it is false


Five requirement of valid contract consensus requisite legal capacity observance of prescribed formalities performance and counter-performance must be possible the agreement must be legal?

it must contain all the relevant requirements in it ,attach all terms and conditions in it