Contractual terms include all the provisions, rights and obligations relevant to a particular agreement. They include express terms, which are written down and included in the contract and, implied terms, which may not be written down, but which will be implied into the contract by the courts. Some clauses go to the root of the contract and a breach of these clauses will grant the right to seek damages as well as termination. Such clauses are called conditions. Clauses that are less important to the performance of the contract are called warranties and breach of these clauses may give the right to seek damages though not to seek termination.
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Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and procurement consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.
