Five Meanings of Contracts – HM-31 and More

Five Meanings of Contracts

It is a short form of contract

Contract is a legal agreement that creates a binding obligation to do or not do something. In law, the word contract is often abbreviated with a “K” because it begins with a hard “C.” In addition to the K contract, the term has several other meanings. The following are five of them:

HM-31 includes Instructions to Bidders, General Conditions of the Contract, Plans and Drawings, Specifications, Statements of Qualifications for Bidders, and Payment Bonds where applicable.

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