Examlex
The two basic types of IT strategies are offshoring often with help from a consulting firm and/or vendor; and outsourcing to a third-party that resides either in the same country or is offshore.
Promisee
The individual or entity to whom a promise is made and who stands to benefit from the fulfillment of that promise.
Creditor Beneficiary
An individual or entity that benefits from a contract made between two other parties because of a debt owed to them.
Breach of Contract
The failure to perform any term of a contract, written or oral, without a legitimate legal excuse.
Resident
An individual who lives in a particular place or who has established domicile within a specific area or jurisdiction.
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