Contract Milestone
/ˈkɒn.trækt ˈmaɪl.stoʊn/
Definitions
- (n.) A significant event or achievement specified in a contract that marks progress and usually triggers an obligation like payment or review.
The contractor received payment upon reaching the first contract milestone.
Forms
- contract milestone
- contract milestones
Related terms
See also
Commentary
Draft contract milestones clearly with measurable criteria to avoid disputes over whether a milestone has been achieved.
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.