The Acronym That Summarises the Feedback Loop of the Self-Regulation

question 99

Short Answer

The acronym that summarises the feedback loop of the self-regulation process is known as ________________.

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Definitions:

Holdback Money

Funds retained by a party in a contract to ensure obligations are met before making full payment.

Privity of Contract

The principle that a contract cannot confer rights or impose obligations arising under it on any person or agent except the parties to it.

Doctrine of Privity

A legal principle stating that contracts are binding only upon the parties signing them, and no third-party can enforce or be obligated by the contract.

Progress Payments

Payments made through the course of a project or contract based on the completion of specified stages of work.