Performance Milestone
/pərˈfɔːrməns ˈmaɪlˌstoʊn/
Definitions
- (n.) A specific, predefined event or achievement triggering contractual obligations, payments, or evaluations in legal agreements, especially in project or contract law.
The completion of the building's foundation was a critical performance milestone that released the next payment installment.
Forms
- performance milestone
- performance milestones
Related terms
See also
Commentary
Performance milestones commonly function as objective criteria for progress or payment, and should be clearly defined to avoid ambiguity in contracts.
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.