Subpart 1216.2 Fixed-Price Contracts
Subpart 1216.4 Incentive Contracts
Subpart 1216.5 Indefinite-Delivery Contracts
Subpart 1216.6 Time-and-Materials, Labor-Hour, and Letter Contracts

Terms Used In 48 CFR Part 1216 - Types of Contracts

  • Contract: A legal written agreement that becomes binding when signed.
  • Evidence: Information presented in testimony or in documents that is used to persuade the fact finder (judge or jury) to decide the case for one side or the other.
  • Jurisdiction: (1) The legal authority of a court to hear and decide a case. Concurrent jurisdiction exists when two courts have simultaneous responsibility for the same case. (2) The geographic area over which the court has authority to decide cases.
  • Settlement: Parties to a lawsuit resolve their difference without having a trial. Settlements often involve the payment of compensation by one party in satisfaction of the other party's claims.
  • Trial: A hearing that takes place when the defendant pleads "not guilty" and witnesses are required to come to court to give evidence.