The Term "Performance Based" in a Contract Means the ______

question 17

Multiple Choice

The term "performance based" in a contract means the ______.

• A) payment is made through the use of vouchers
• B) grant recipient is not required to show measurable outcomes
• C) payment and renewal of the grant are contingent on meeting outcome goals
• D) grant recipient must demonstrate performance outcomes before receiving a grant

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Definitions:

Notice of Assignment

A formal notification given to all relevant parties that a specific task, role, or obligation has been assigned to another party.

Assignee

An individual, group, or legal entity to which rights or interests have been transferred by another, known as the assignor.

Assigned Rights

Assigned rights involve the transfer of rights or duties under a contract from one party to another, not transferring the entire contract but specific benefits.

Contractual Obligations

Duties that are legally required to be fulfilled under the terms of a contract.