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destroy the aggregate contract basis

Destroy The aggregate contract Basis

Employer Stop Loss Insurance Considerations. paid basis as shown in the aggregate contract basis of the schedule: a. less the aggregate deductible b. less the amount of the claims paid by the contrac-tholder in excess of the maximum eligible claim expense per person as shown in the schedule; and c. less amounts recovered from other sources; d. multiplied by the aggregate payable percentage ...

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destroy the aggregate contract basis

(a) Inventory basis. (1) Use of the inventory basis for settlement proposals is preferred. Under this basis, the contractor may propose only costs allocable to the terminated portion of the contract, and the settlement proposal must itemize separately (i) Metals, raw materials, purchased parts, work in process, finished parts, components, dies, jigs, fixtures, and tooling, at purchase or ...

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Employer Stop Loss Insurance Considerations

paid basis as shown in the aggregate contract basis of the schedule: a. less the aggregate deductible b. less the amount of the claims paid by the contrac-tholder in excess of the maximum eligible claim expense per person as shown in the schedule; and c. less amounts recovered from other sources; d. multiplied by the aggregate payable percentage.

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Stop-Loss Insurance 101 Springbuk

Aggregate Stop-Loss: This form of stop-loss provides a ceiling to the amount that an employer would pay in expenses on the entire plan, on an aggregate basis, during a contract period. Under this policy, the insurance carrier reimburses the employer after the end of the contract period for aggregate claims.

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Aggregate Basis definition - Law Insider

Aggregate Basis means, with respect to any calculation and any Investor, such calculation, taking together the securities owned by such Investor and its Affiliates and funds managed by and under common management with such Investor.For the purposes of this definition, each of the Company, its officers and directors and its subsidiaries shall not be deemed to be an Affiliate of any Investor ...

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Did Biden's Order To Halt Keystone XL Pipeline 'Destroy ...

In total, the TC Energy news release estimated that more than 11,000 people would work on the pipeline in the coming year, supposedly creating more than $1.6 billion in gross wages.

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Financial Caps on Liability in Construction Contracts ...

Oct 31, 2013  The three aspects to consider with regards to a financial cap are: (i) the level, (ii) the basis (each and every claim or in the aggregate) and (iii) the exclusions. Often parties focus on the level of the cap whereas focusing on the basis and the exclusions may allow a

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Caps on liability: ensuring that an "aggregate" cap means ...

Clause 30.9 of the contract contained an "additional costs to complete test", i.e. if the total cost to the Employer in completing the Works exceeded the total cost that the Works would have cost if they had been completed by the Contractor (and the contract had not been terminated), the difference would be recoverable by the Employer from the ...

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‘In the aggregate’ vs ‘any one claim’: What’s the ...

Oct 24, 2017  In our example, we’ll pretend that you’ve had a total nightmare of a year with three claims made against you costing half a million pounds each. With a policy in the aggregate, this amount accumulates and you will end up having to pay the shortfall of £500,000 yourself. With any one claim, you won’t have to worry.

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Aggregate Limit Definition

Feb 20, 2018  For example, a liability policy may have a $25,000 per claim limit and an aggregate limit of $100,000. If the insured makes a single claim for $50,000, the

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Stop-Loss Insurance 101 Springbuk

Aggregate Stop-Loss: This form of stop-loss provides a ceiling to the amount that an employer would pay in expenses on the entire plan, on an aggregate basis, during a contract period. Under this policy, the insurance carrier reimburses the employer after the end of the contract period for aggregate claims.

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Statement of Statutory Accounting Principles No. 54 ...

14. Contract or additional reserves on accident and health contracts shall be recorded when premiums and benefits are not earned or incurred at the same incidence over the policy period (e.g., contracts having premiums determined on an issue-age basis where premiums and related morbidity, risk of

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GLOSSARY OF REINSURANCE TERMINOLOGY

Aggregate Extension Clause Stipulates that all aggregate original policies will attach on a “risk incepting during the period” basis, and describes a manner in which attachment date of a policy or policies is determined; determines how the aggregate is calculated in

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Eligible Contract Participant - Definition staging

(xi) an individual who has amounts invested on a discretionary basis, the aggregate of which is in excess of— (I) $10,000,000; or (II) $5,000,000 and who enters into the agreement, contract, or transaction in order to manage the risk associated with an asset owned or liability incurred, or reasonably likely to be owned or incurred, by the ...

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‘In the aggregate’ vs ‘any one claim’: What’s the ...

Oct 24, 2017  In our example, we’ll pretend that you’ve had a total nightmare of a year with three claims made against you costing half a million pounds each. With a policy in the aggregate, this amount accumulates and you will end up having to pay the shortfall of £500,000 yourself. With any one claim, you won’t have to worry.

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Ch 6 - Pricing Equitable Adjustments and Settlements

If the contract price before the modification was unrealistically low, do not permit the contractor to "get well" by over-pricing the contract modification. o. When the contract price before the modification was unrealistic, you may consider another basis for adjustment (e.g., the contract price adjusted for known elements of unrealistic pricing).

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Completed contract method definition — AccountingTools

May 05, 2017  What is the Completed Contract Method? The completed contract method is used to recognize all of the revenue and profit associated with a project only after the project has been completed. This method is used when there is uncertainty about the collection of funds due from a customer under the terms of a contract. This method yields the same results as the percentage of

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Completed Contract Method - Definition, Examples and ...

The completed contract method defers all revenue and expense recognition until the contract is completed. The method is used when there is unpredictability in the collection of funds from the customer. It is simple to use, as it is easy to determine when a contract is complete. In addition, under the completed contract method, there is no need ...

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CONTRACT FOR THE SUPPLY AND DELIVERY OF GOODS

(a) Terminate this Contract without liability by giving an immediate notice and to charge the Supplier with any loss incurred as a result of the Supplier's failure to make the delivery within the time specified; or (b) Charge a penalty of 0.1% of the total contract price for every day of delay or breach of the delivery schedule by the Supplier.

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What are the type of contracts? - Basic Civil Engineering

May 22, 2016  The contractor will quote against each BOQ item and enter a unit rate or unit price to build up the total contract price on basis of those BOQ quantities. During the construction period, the actual quantity of works executed under each BOQ item will be jointly measured and valued at the quoted rate for interim payment purpose.

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Offer and Acceptance: Everything You Need to Know

A contract does not become effective unless the offerer receives a communication of acceptance from the offeree. The communication may be instant or at a later point in time, say for instance, through email or post. Although signing a contract is a common way

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Subpart 4.8—Government Contract Files - Acquisition

4.801 General. (a) The head of each office performing contracting, contract administration, or paying functions shall establish files containing the records of all contractual actions. (b) The documentation in the files (see 4.803) shall be sufficient to constitute a complete history of

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What is the difference between an aggregate cap on ...

May 18, 2016  My client is the lead consultant in a supply chain contract and has sub-contracted some of the work to a sub-consultant. The sub-consultant has requested that NEC3 PSC Clause 82.1 bullet point three on "infringement of the right of Others" and bullet point four on "loss of or damage to third party property" (the excluded matters) be removed from the contract.

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4 Common Types of Construction Contracts

Apr 22, 2019  A construction contract provides a legal binding agreement for both the owner and the builder that says the executed job will receive the specific amount of compensation. It may also say how that compensation will be distributed. There are several types of construction contracts used in the industry, but there are certain types of construction contracts preferred by construction professionals.

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Eligible Contract Participant - Definition staging

(xi) an individual who has amounts invested on a discretionary basis, the aggregate of which is in excess of— (I) $10,000,000; or (II) $5,000,000 and who enters into the agreement, contract, or transaction in order to manage the risk associated with an asset owned or liability incurred, or reasonably likely to be owned or incurred, by the ...

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Completed contract method definition — AccountingTools

May 05, 2017  What is the Completed Contract Method? The completed contract method is used to recognize all of the revenue and profit associated with a project only after the project has been completed. This method is used when there is uncertainty about the collection of funds due from a customer under the terms of a contract. This method yields the same results as the percentage of

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Breach of contract - Wikipedia

Breach of contract is a legal cause of action and a type of civil wrong, in which a binding agreement or bargained-for exchange is not honored by one or more of the parties to the contract by non-performance or interference with the other party's performance. Breach occurs when a party to a contract fails to fulfill its obligation(s), whether partially or wholly, as described in the contract ...

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Ch 6 - Pricing Equitable Adjustments and Settlements

If the contract price before the modification was unrealistically low, do not permit the contractor to "get well" by over-pricing the contract modification. o. When the contract price before the modification was unrealistic, you may consider another basis for adjustment (e.g., the contract price adjusted for known elements of unrealistic pricing).

More

Subpart 4.8—Government Contract Files - Acquisition

4.801 General. (a) The head of each office performing contracting, contract administration, or paying functions shall establish files containing the records of all contractual actions. (b) The documentation in the files (see 4.803) shall be sufficient to constitute a complete history of

More

What is the difference between an aggregate cap on ...

May 18, 2016  My client is the lead consultant in a supply chain contract and has sub-contracted some of the work to a sub-consultant. The sub-consultant has requested that NEC3 PSC Clause 82.1 bullet point three on "infringement of the right of Others" and bullet point four on "loss of or damage to third party property" (the excluded matters) be removed from the contract.

More

Completed Contract Method - Definition, Examples and ...

The completed contract method defers all revenue and expense recognition until the contract is completed. The method is used when there is unpredictability in the collection of funds from the customer. It is simple to use, as it is easy to determine when a contract is complete. In addition, under the completed contract method, there is no need ...

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Profit on Incomplete Contracts Homework Help, Assignment ...

The estimated total profit on the contract can be calculated by deducting the total cost from the contract price. The profit and loss account should be credited with the proportion of total estimated profit on cash basis, which the value of work certified bears to the total contract price.

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Accounting Methods for Long-Term Contracts: Completed ...

Money › Taxes › Business Taxes Accounting Methods for Long-Term Contracts: Completed Contract Method, Percentage of Completion Method. 2021-01-03 For short-term contracts, the taxpayer will use either the cash or accrual accounting method, but for certain long-term contracts, there are additional choices provided by IRC §460.. Long-term contracts that qualify under §460 are contracts for ...

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What are the type of contracts? - Basic Civil Engineering

May 22, 2016  The contractor will quote against each BOQ item and enter a unit rate or unit price to build up the total contract price on basis of those BOQ quantities. During the construction period, the actual quantity of works executed under each BOQ item will be jointly measured and valued at the quoted rate for interim payment purpose.

More

Contract Costing: Meaning, Features and Procedure Cost ...

Note: (1) If the total of debit side of Contract Account exceeds the total of the credit side of Contract Account, the resultant will be loss, which will be transferred to P/L A/c and not to Work-in- progress A/c. (2) If contract is near to completion, then profit will be calculated by adopting the following formula – Work-in-Progress Account:

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26 U.S. Code § 460 - Special rules for long-term contracts ...

(A) Home construction contract The term “home construction contract” means any construction contract if 80 percent or more of the estimated total contract costs (as of the close of the taxable year in which the contract was entered into) are reasonably expected to be attributable to activities referred to in paragraph (4) with respect to—

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Grahnlaw: EU procurement: Calculating contract value

Jan 08, 2009  Where a proposed contract provides for options, the basis for calculating the contract value shall be the maximum total possible assuming that all the options will be exercised. In any event, selection of the valuation method may not be made with the intention of avoiding the application of the Services Directive. 2.2.2 Split contracts

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SAMPLE WEB SITE DEVELOPMENT AGREEMENT

DEVELOPER will destroy all of its copies of COMPANY’s Web Site (including ... The total price for all of the work set forth in the Agreement (excluding the Server ... DEVELOPER shall invoice COMPANY on a bi-weekly basis for the amount of work done during the applicable two

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