statement of work. A contractual provision or exhibit that defines what one party (e.g., the seller) is going to do for the other (e.g., the buyer). • The statement of work often covers such terms as (1) inspection and acceptance, (2) quality-assurance requirements, (3) packing and marking, (4) data requirements, and (5) training. There are […]
lowest responsible bidder. A bidder who has the lowest price conforming to the contract specifications and who is financially able and competent to complete the work, as shown by the bidder’s prior performance. [Cases: Public Contracts 11. C.J.S. Public Administrative Law and Procedure §§ 8–9, 12, 16–17.]
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A contract requiring the contractor to build a product according to exact technical speci-fications provided by the customer. • The design specifications are explicit and are often coupled with perfor-mance specifications, so the contractor has little discretion in how to perform. Much governmental contracting is build-to-print. — Also termed design-specification contract. Cf. performance contract (1).
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A contract setting forth the specifications for a building project’s construction. • This type of contract is usu. secured by performance and payment bonds to protect both the owner and the subcontractors. [Cases: Contracts 198.]
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damnum et interesse (dam-n[schwa]m et in-t[schwa]r-es-ee). [Latin] Scots law. The loss and damage sustained. “Damnum et interesse. — The loss and interest; or, as the words may also be translated, damage, and its issues or consequences. The words are used by Erskine in treating of the liability of cautioners who become bound to see a
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