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What is customer contract?
A customer contract is a legally binding agreement between a business and its customer that outlines the terms and conditions of a transaction or service. It typically includes details such as the scope of work, payment terms, delivery timelines, and responsibilities of both parties. Customer contracts are essential for protecting the rights of both the business and the customer, ensuring clarity and accountability in the relationship. These contracts can take various forms, including service agreements, sales contracts, and subscription agreements.
What are contractual agreements that their customers have with their organisation?
Contractual agreements with customers typically include terms of service, privacy policies, and any specific contracts related to the sale of goods or services. These agreements outline the rights and obligations of both parties, such as payment terms, delivery conditions, and liability clauses. They also often include provisions for dispute resolution and termination conditions. Such agreements are essential for ensuring clarity and protection for both the organization and its customers.
What is a standardized forward contract called?
A standardized forward contract is typically referred to as a futures contract. Unlike traditional forward contracts, which are customized agreements between two parties, futures contracts are traded on exchanges and have standardized terms regarding quantity, quality, and delivery dates. This standardization allows for greater liquidity and price discovery in the market.
Ready delivery contracts are also called as?
Such contracts are settled within a short period of time . Usually the period allowed is twelve days and the settlement takes place on on the following settlement days .No postponement is allowed in case of ready delivery contracts. (SONA.P)
What are major traits of turn-key type contracts?
Turn-key contracts are characterized by a fixed price for the completed project, where the contractor assumes full responsibility for design, construction, and delivery. The client typically provides minimal input during the process, receiving a fully operational facility or system upon completion. This type of contract minimizes risks for the client, as the contractor handles all aspects of the project, including scheduling and procurement. Additionally, turn-key contracts often include defined timelines and performance specifications to ensure the project meets the client's needs upon handover.
Who governed Managed services engagement?
Managed services engagement is typically governed by a combination of service level agreements (SLAs), contracts, and performance metrics established between the service provider and the client. These agreements outline the scope of services, responsibilities, and expectations for both parties. Additionally, governance may involve regular reviews and oversight by management teams to ensure compliance and effectiveness in service delivery.
What percent of front-month crude oil futures contracts are closed out and what percent leads to physical delivery?
10%
What is negotiating contracts?
It is the give and take about the clauses of the agreement. It means discussing the pricing, delivery terms and other aspects of the obligations.
What is an agricultural commodities exchange market?
Commodities are traded in futures markets in the US. These are companies that provide a platform for the buying and selling of promises to take or make delivery of a commodity in the future at a specified price. The contracts are fungible so that after buying (promise to take delivery) one can cancel by selling (a promise to make delivery). Commodities are traded in futures markets in the US. These are companies that provide a platform for the buying and selling of promises to take or make delivery of a commodity in the future at a specified price. The contracts are fungible so that after buying (promise to take delivery) one can cancel by selling (a promise to make delivery).
What is open interest in futures market?
Open Interest is the total number of outstanding contracts that are held by market participants at the end of the day. It can also be defined as the total number of futures contracts or option contracts that have not yet been exercised (squared off), expired, or fulfilled by delivery.
Are Shops that are do after the deadline may result in reduced payment true or false?
True. Shops that submit their work after the deadline may face reduced payment as a consequence, as timely delivery is often a key requirement for maintaining contracts and agreements. Late submissions can disrupt schedules and affect overall project timelines, which may lead to penalties or lower compensation.
What is supplier expectation?
Supplier expectations refer to the specific requirements and standards that a company has for its suppliers in terms of quality, delivery, pricing, communication, and other aspects of the business relationship. These expectations are often outlined in contracts or agreements to ensure both parties are clear on their responsibilities and commitments. Effective management of supplier expectations is crucial for achieving a successful and mutually beneficial partnership.
