Contract Award
/ˈkɒn.trækt əˈwɔːrd/
Definitions
- (n.) The formal decision and notification by a party to award a contract to a bidder or contractor, establishing the binding agreement for services or goods.
The contract award was announced after the bid evaluation was completed.
- (n.) The document or notice evidencing the decision to grant the contract to a particular party.
They received the contract award letter last Friday.
Forms
- contract awards
Related terms
See also
Commentary
Typically used in procurement and government contracting contexts, the term signals contractual commitment; clarity in drafting award notices minimizes disputes.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.