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The terms performance-based and results-based are mostly used interchangeably. The latter may signal more the achievement of broader social and economic outcomes Performance-based contracting is the term used in Australia, New Zealand and Canada to describe the practice of attaching contract payment to a set of performance metrics.
Energy Savings Performance Contracts are regulations created by the Federal Energy Management Program (FEMP) of the United States Department of Energy (DOE) as required by the Energy Policy Act of 1992. The final DOE ruling came into effect on May 10, 1995. The use of ESPCs by Federal agencies was reauthorized in the Energy Policy Act of 2005 ...
Specific performance is an equitable remedy in the law of contract, whereby a court issues an order requiring a party to perform a specific act, such as to complete performance of the contract. [1] It is typically available in the sale of land law , but otherwise is not generally available if damages are an appropriate alternative.
Substantial performance. At common law, substantial performance is an alternative principle to the perfect tender rule. It allows a court to imply a term that allows a partial or substantially similar performance to stand in for the performance specified in the contract. This principle is relevant when a contractor's performance is in some way ...
The doctrine of impossibility or impossibility of performance or impossibility of performance of contract is a doctrine in contract law.. In contract law, impossibility is an excuse for the nonperformance of duties under a contract, based on a change in circumstances (or the discovery of preexisting circumstances), the nonoccurrence of which was an underlying assumption of the contract, that ...
A contingent contract is an agreement that states which actions under certain conditions will result in specific outcomes. [ 1] Contingent contracts usually occur when negotiating parties fail to reach an agreement. The contract is characterized as "contingent" because the terms are not final and are based on certain events or conditions occurring.
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