Costing
/ˈkɒstɪŋ/
Definitions
- (n.) The process of estimating and allocating costs for goods or services, often used in legal contexts such as litigation budgeting and contract pricing.
The legal team reviewed the costing to ensure the project's compliance with budgetary constraints.
Related terms
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Commentary
In legal contexts, costing is critical for budgeting in litigation and contract negotiations; precise costing helps in risk management and compliance.
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.