Dictionary of Procurement Terms

Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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Search Results: 1-1 of 1 result for “Penalty Charge”

  • Penalty Charge

    A clause in a contract specifying the sum of money to be paid if the contractor defaults on the terms of the contract, particularly with respect to time. See also: Liquidated Damages, Damages.

    See Also: Liquidated Damages, Damages
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