Terms Used In 12 Guam Code Ann. § 10404

  • Contract: A legal written agreement that becomes binding when signed.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
Notwithstanding any other provisions of law, the Board of Directors is authorized to enter into a public-private partnership through a performance management contract for other aspects of the Port operations it deems necessary, provided that the processes outlined in the above sections are complied with.

SOURCE: Added by P.L. 29-023:1 (Oct. 24, 2007).

§ 10405. Termination of Contract for Reasons Unrelated to
Performance.

Should at some point in the future, a determination be made by I Liheslaturan Guåhan, that a broad-scale public-private partnership for the Port operations be advisable, subject to legislative approval, and if any agreements entered into pursuant to this Act are viewed as impeding, such provisions may be included in each contract for the purchase of such contract, except that no contract shall be purchased in any circumstance where a Contractor’s performance has been deemed to be unacceptable in accordance with the provisions of this Act.

SOURCE: Added by P.L. 29-023:1 (Oct. 24, 2007).

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12 Guam Code Ann. AUTONOMOUS AGENCIES
CH. 10 PORT AUTHORITY OF GUAM

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