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Terms related to contract management are defined from the perspective of IEEE.

 

IEEE terms

  • Negotiate: To arrange the terms of a contract.
  • Approve: To confirm or agree to by signing the Contract Transmittal Form.
  • Execution: To make valid or legal as by signing.
  • Major Board Staff Rep: The Managing Director (IEEE Staff) for the area the contract originates.
  • Contract Value: The maximum annual amount of receipts or expenditures multiplied by the number of contract years.
  • Exclusive Contracts: An exclusive contract grants a party exclusive rights to provide products or services for a specified period of time.
  • Contract Transmittal Form: A form that directs any agreement between the IEEE (or any of its Units) and the vendor through the contract review process and travels with the contract indicating where the contract originated and where it is bound to go for review and execution
  • Initiator: The employee who is submitting the negotiated contract with a completed Contract Transmittal Form (CTF).
  • Initiating Unit: The authorized member/volunteer/unit to submit the negotiated contract with a completed Contract Transmittal Form.
  • MSA: Master Service Agreement.
  • ICA: Independent Contractor Agreement.
  • CTF: Contract Transmittal Form.
  • Addendum: In addition to.
  • Breach: Any failure to perform a requirement of a contract.

 
 

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