48 CFR Part 1216 – Types of Contracts
Current as of: 2024 | Check for updates
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Other versions
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.