Managing official Clause Samples

Managing official. The official or any other person who manages and controls the performance of the public contract; - Performance bond: Financial collateral given by the contractor to ensure he will fulfil his obligations until final and good performance of the contract; - Acceptance: Observation by the contracting authority that the performance by the contractor of all or part of the works, supplies or services is in compliance with good practice and with the terms and conditions of the contract; - Progress payment: Payment of an instalment under the contract after acceptance of performance; - Advance: Payment of part of the contract before acceptance of performance; - Amendment: Agreement established between the contracting parties during contract performance in view of changing documents applicable to the contract;