Parol Evidence Rule
Rule that states that a
written contract is the exclusive record of the
transaction; therefore, the parties to a
contract may not use any other evidence to
explain, supplement, or modify the contract
regarding any issue that may arise, except in
cases involving duress, fraud, or a mutual
An identification number assigned
to an individual part by the manufacturer or
distributor of that part; usually includes a
combination of alpha and/or numeric
Payment that permits the
contractor to invoice at intervals to coincide
with the delivery and acceptance of
incremental goods or services. See also:
Progress Payments, Advance Payments.
A single order sent in
multiple shipments or delivered in multiple
deliveries. See also: Back Order.
CANADIAN A two-character
international standard organization code that
indicates whether the entity is a federal or
Creating a mutually beneficial
relationship with a supplier or contractor for
the specific performance of work in which the
relationship is trusting and supportive rather
A formal arrangement between
parties to operate and manage a business
and share its risks, liabilities, and profits.
A measure of quality
used in acceptance, whereby defective goods
or failures must not exceed a stated number
for each million parts supplied or tested.
A secret word, phrase, or string of
characters that allow the end user access
during the authentication process, usually to a
website, device, or application.
A set of exclusive rights granted by a
government to the owner to exclude others
from commercial use of the owner's invention
for a set period of time.