48 CFR Part 48 – Value Engineering
Current as of: 2024 | Check for updates
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| § 48.000 | Scope of part |
| § 48.001 | Definitions |
| Subpart 48.1 | Policies and Procedures |
| Subpart 48.2 | Contract Clauses |
Terms Used In 48 CFR Part 48 - Value Engineering
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Beneficiary: A person who is entitled to receive the benefits or proceeds of a will, trust, insurance policy, retirement plan, annuity, or other contract. Source: OCC
- Contract: A legal written agreement that becomes binding when signed.
- 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.