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The Contracting Out of Work to a Vendor or Third

question 31

Multiple Choice

The contracting out of work to a vendor or third party administrator is called ________.


Definitions:

Offeror

The party in a contract who proposes the terms of an agreement to another party, awaiting acceptance or rejection.

Intent

The determination to perform a particular act or to act in a particular manner for a specific reason.

Contract

A legally binding agreement between two or more parties that outlines the terms and conditions of an arrangement.

Offeror

The party in contract negotiations who presents a proposal or offer to enter into an agreement, awaiting acceptance by the offeree.

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