Identify and State the Historical Significance of the Following

question 67

Short Answer

Identify and state the historical significance of the following:
-CREEP

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Definitions:

Prompt Payment

The practice of paying invoices on time, which can help build good relationships with suppliers and might qualify the payer for discounts.

Lower Price

The reduction of cost or charge for a product or service, making it more affordable.

Performance Bond

A bond issued by a bank or insurance company that guarantees satisfactory completion of a project by a contractor, mitigating risk for the project owner.

Indemnified

means being protected or secured against financial loss or other liabilities, often through insurance or contractual agreement.