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What is contract performance? Contract performance is the process of fulfilling the promises made in a contract. For parties to perform a contract successfully, they have to deliver the results theyve promised in the agreement, and usually within a certain timeframe.
A Performance Agreement is a contract between the University and an Artist or Speaker for a live performance or presentation. An artist includes individuals or groups providing music, theater, dance, film, or spoken word for an audience.
a legal agreement in which one organization agrees to pay another when they successfully finish the project or task they were employed to do: The street lighting service is delivered through a performance contract.
For example, a utility company could enter into a performance-based contract for the purchase of maintenance services for a turbine. The utility company would establish a technically specific scope of work with specific performance metrics.
Performance agreements provide a useful vehicle to bring results-oriented performance information into the executives performance evaluation. The agreements play an important role in determining executive performance ratings and bonuses. Continuity of program goals during leadership transitions.
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