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URE-MINIMUM SERVICE
| Term | Definition |
|---|---|
| Contingency | A provision in a contract that requires the completion of a certain act or the happening of a particular event before that contract is binding. |
| Counter Offer | A response to an offer wherein the offered changes one or more of the terms of the contract, becomes the offer or, and sends the offer back to the original offer. |
| Minimum Service Requirements | Created in 2005 to ensure that the public would not be left to address sensitive situations such as contractual offer presentations and counter offers alone. |
| Notice | Information that may be required by the terms of a contract. |
| Offer | A promise by one party to act or perform in a specified manner provided the other party acts or performs in the manner requested. |
Created by:
Megan07