What Is A Performance Contract
What is a performance contract?
A performance contract is a legally binding agreement between two or more parties that outlines the terms and conditions related to the performance of a specific task or service. It serves as a formal commitment between the parties involved and provides a clear understanding of their respective responsibilities and expectations.
What are the types of performance contracts?
There are several types of performance contracts based on the nature of the task or service involved. Some common types include:
How to complete a performance contract
Completing a performance contract requires careful attention to detail and clear communication between all parties. Here are the steps to follow:
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