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A "no-bid contract" or "sole source contract" is a contract awarded without competitive bidding.
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A "no-bid contract" or "sole source contract" is a contract awarded without competitive bidding.
The Defense Contract Management Agency (DCMA) is an agency of the United States federal government reporting to the Under Secretary of Defense for Acquisition and Sustainment. It is responsible for administering contracts for the Department of Defense (DoD) and other authorized federal agencies. Its headquarters is at Fort Lee, Virginia. DCMA often handles Foreign Military Sales contracts.
Cronyism is the practice of partiality in awarding jobs and other advantages to friends, family relatives or trusted colleagues, especially in politics and between politicians and supportive organizations. For instance, this includes appointing "cronies" to positions of authority, regardless of their qualifications.
The Federal Acquisition Regulation (FAR) is the principal set of rules in the Federal Acquisition Regulations System regarding government procurement in the United States, and is codified at Chapter 1 of Title 48 of the Code of Federal Regulations, 48 C.F.R. 1.
Contract bridge, or simply bridge, is a trick-taking card game using a standard 52-card deck. In its basic format, it is played by four players in two competing partnerships, with partners sitting opposite each other around a table. Millions of people play bridge worldwide in clubs, tournaments, online and with friends at home, making it one of the world's most popular card games, particularly among seniors. The World Bridge Federation (WBF) is the governing body for international competitive bridge, with numerous other bodies governing bridge at the regional level.
Chapter 11 is a chapter of Title 11, the United States Bankruptcy Code, which permits reorganization under the bankruptcy laws of the United States. Chapter 11 bankruptcy is available to every business, whether organized as a corporation, partnership or sole proprietorship, and to individuals, although it is most prominently used by corporate entities. In contrast, Chapter 7 governs the process of a liquidation bankruptcy, though liquidation can be done under Chapter 11 also; while Chapter 13 provides a reorganization process for the majority of private individuals.
In finance, a derivative is a contract that derives its value from the performance of an underlying entity. This underlying entity can be an asset, index, or interest rate, and is often simply called the "underlying." Derivatives can be used for a number of purposes, including insuring against price movements (hedging), increasing exposure to price movements for speculation or getting access to otherwise hard-to-trade assets or markets. Some of the more common derivatives include forwards, futures, options, swaps, and variations of these such as synthetic collateralized debt obligations and credit default swaps. Most derivatives are traded over-the-counter (off-exchange) or on an exchange such as the New York Stock Exchange, while most insurance contracts have developed into a separate industry. In the United States, after the financial crisis of 2007–2009, there has been increased pressure to move derivatives to trade on exchanges. Derivatives are one of the three main categories of financial instruments, the other two being stocks and debt. The oldest example of a derivative in history, attested to by Aristotle, is thought to be a contract transaction of olives, entered into by ancient Greek philosopher Thales, who made a profit in the exchange. Bucket shops, outlawed a century ago, are a more recent historical example.
A tort, in common law jurisdictions, is a civil wrong that causes a claimant to suffer loss or harm resulting in legal liability for the person who commits the tortious act.
In moral and political philosophy, the social contract is a theory or model that originated during the Age of Enlightenment and usually concerns the legitimacy of the authority of the state over the individual. Social contract arguments typically posit that individuals have consented, either explicitly or tacitly, to surrender some of their freedoms and submit to the authority in exchange for protection of their remaining rights or maintenance of the social order. The relation between natural and legal rights is often a topic of social contract theory. The term takes its name from The Social Contract, a 1762 book by Jean-Jacques Rousseau that discussed this concept. Although the antecedents of social contract theory are found in antiquity, in Greek and Stoic philosophy and Roman and Canon Law, the heyday of the social contract was the mid-17th to early 19th centuries, when it emerged as the leading doctrine of political legitimacy.
Lockheed Martin Corporation is an American global aerospace, defense, security and advanced technologies company with worldwide interests. It was formed by the merger of Lockheed Corporation with Martin Marietta in March 1995. It is headquartered in North Bethesda, Maryland, in the Washington, DC, area. Lockheed Martin employs approximately 100,000 people worldwide as of December 2017.
A photographer is a person who makes photographs.
A songwriter is a professional that writes lyrics or composes musical compositions for songs. A songwriter can also be called a composer, although the latter term tends to be used mainly for individuals from the classical music genre and film scoring, but is also associated with writing and composing the original musical composition or musical bed. A songwriter that writes the lyrics/words are referred to as lyricist. The pressure from the music industry to produce popular hits means that songwriting is often an activity for which the tasks are distributed between a number of people. For example, a songwriter who excels at writing lyrics might be paired with a songwriter with the task of creating original melodies. Pop songs may be written by group members from the band or by staff writers – songwriters directly employed by music publishers. Some songwriters serve as their own music publishers, while others have outside publishers.
A record label, or record company, is a brand or trademark associated with the marketing of music recordings and music videos. Sometimes, a record label is also a publishing company that manages such brands and trademarks, coordinates the production, manufacture, distribution, marketing, promotion, and enforcement of copyright for sound recordings and music videos, while also conducting talent scouting and development of new artists, and maintaining contracts with recording artists and their managers. The term "record label" derives from the circular label in the center of a vinyl record which prominently displays the manufacturer's name, along with other information. Within the mainstream music industry, recording artists have traditionally been reliant upon record labels to broaden their consumer base, market their albums, and be both promoted and heard on music streaming services, radio, and television. Record labels also provide publicists, who assist performers in gaining positive media coverage, and arrange for their merchandise to be available via stores and other media outlets.
Breach of contract is a legal cause of action and a type of civil wrong, in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. Breach occurs when a party to a contract fails to fulfill its obligation(s) as described in the contract, or communicates an intent to fail the obligation or otherwise appears not to be able to perform its obligation under the contract. Where there is breach of contract, the resulting damages will have to be paid by the party breaching the contract to the aggrieved party.
Construction is the process of constructing a building or infrastructure. Construction differs from manufacturing in that manufacturing typically involves mass production of similar items without a designated purchaser, while construction typically takes place on location for a known client. Construction as an industry comprises six to nine percent of the gross domestic product of developed countries. Construction starts with planning, design, and financing; it continues until the project is built and ready for use.
In finance, a futures contract is a standardized forward contract, a legal agreement to buy or sell something at a predetermined price at a specified time in the future, between parties not known to each other. The asset transacted is usually a commodity or financial instrument. The predetermined price the parties agree to buy and sell the asset for is known as the forward price. The specified time in the future—which is when delivery and payment occur—is known as the delivery date. Because it is a function of an underlying asset, a futures contract is a derivative product.
Contract killing is a form of murder in which one party hires another party to kill a target individual or group of people. It involves an illegal agreement between two or more parties in which one party agrees to kill the target in exchange for some form of payment, monetary or otherwise. Either party may be a person, group, or an organization. In the United States, the crime is punishable by 15 years to life in a state penitentiary. Contract killing has been associated with organized crime, government conspiracies, and vendettas. For example, in the United States, the gang Murder, Inc. committed hundreds of murders on behalf of the National Crime Syndicate during the 1930s and 1940s.
In professional sports, a free agent is a player who is eligible to freely sign with any club or franchise; i.e., not under contract to any specific team. The term is also used in reference to a player who is under contract at present but who is allowed to solicit offers from other teams. In some circumstances, the free agent's options are limited by league rules.
Space Exploration Technologies Corp., doing business as SpaceX, is a private American aerospace manufacturer and space transportation services company headquartered in Hawthorne, California. It was founded in 2002 by entrepreneur Elon Musk with the goal of reducing space transportation costs and enabling the colonization of Mars. SpaceX has since developed the Falcon launch vehicle family and the Dragon spacecraft family, which both currently deliver payloads into Earth orbit.
Independent music is music produced independently from commercial record labels or their subsidiaries, a process that may include an autonomous, do-it-yourself approach to recording and publishing. The term indie is sometimes used to describe a genre, and as a genre term, "indie" may include music that is not independently produced, and many independent music artists do not fall into a single, defined musical style or genre and create self-published music that can be categorized into diverse genres. The term ‘indie’ or ‘independent music’ can be traced back to as early as the 1920’s after it was first used to reference independent film companies but was later used as a term to classify an independent band or record producer.
The Money in the Bank ladder match is a multi-person ladder match held by the professional wrestling promotion WWE. First contested at WWE's annual WrestleMania event beginning in 2005, a separate Money in the Bank pay-per-view was established in 2010. The prize in the match is a briefcase containing a contract for a championship match, which can be "cashed in" by the holder of the briefcase at any point in the year following their victory. If the contract is not used within the year of winning it, it will be invalid, but this has yet to happen. From its inception until 2017, ladder matches only involved male wrestlers, with the contract being for a world championship match. Beginning with the 2017 event, women also have the opportunity to compete in such a match, with their prize being for a women's championship match.
The Indian Premier League (IPL) is a professional Twenty20 cricket league in India contested during March or April and May of every year by eight teams representing eight different cities in India. The league was founded by the Board of Control for Cricket in India (BCCI) in 2008, and is regarded as the brainchild of Lalit Modi, the founder and former commissioner of the league. IPL has an exclusive window in ICC Future Tours Programme.
A contract is a legally-binding agreement which recognises and governs the rights and duties of the parties to the agreement. A contract is legally enforceable because it meets the requirements and approval of the law. An agreement typically involves the exchange of goods, services, money, or promises of any of those. In the event of breach of contract, the law awards the injured party access to legal remedies such as damages and cancellation.
Money in the Bank is a professional wrestling pay-per-view (PPV) event, produced annually by WWE. It is named after the Money in the Bank ladder match, which previously only took place at WrestleMania. The Money in the Bank ladder match debuted at WrestleMania 21 in 2005. The Money in the Bank match would then be held at the next five WrestleMania events, after which the match concept was spun off on to its own pay-per-view beginning in 2010.