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Gatekeeper Contract and Vendor Management Glossary

Search common contracting language and take a deeper dive to discover what each means

Glossary > T

Time is of the Essence

A statement indicating that the times specified in a Contract for something to be done or not done are so critical that if one Party does not comply with the timing requirements, another Party can immediately Terminate for Cause.

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UKAS-ISO9001-Mark-cl-27_Mono
UKAS-ISO27001-Mark-cl-27_Mono
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