Agreement in Principal

During negotiations not all details may be decided, but an agreement in principal may be reached. This occurs when most of the contract language is approved by all parties. There may still be some outstanding items that have not been agreed upon during this phase of negotiations.
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Definition 1

During negotiations not all details may be decided, but an agreement in principal may be reached. This occurs when most of the contract language is approved by all parties. There may still be some outstanding items that have not been agreed upon during this phase of negotiations.

CategoriesFinance, Procurement
Term OPIPM - Office of Project Management Oversight and Assessments
Definition typeDefinition
RelatedSources

Source 1:

DOE G 430.1-1, Cost Estimating Guide
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