prime contract


Also found in: Acronyms.

prime contract

A contract between the owner and contractor for construction of a project or portion thereof.
References in periodicals archive ?
PAR Technology Corporation (NYSE:PAR) has announced that its subsidiary, Rome Research Corporation (RRC), has been awarded a 5-year, USD 8.3M million prime contract to provide engineering and installation of critical telecommunications infrastructure at Camp Lemonnier, Djibouti (CLDJ) Africa, the company said.
PAR Technology Corporation (NYSE:PAR) announced on Thursday the award to its subsidiary, Rome Research Corporation (RRC), of a five-year, USD8.3m prime contract to provide engineering and installation of critical telecommunications infrastructure at Camp Lemonnier, Djibouti (CLDJ), Africa.
A general contractor's agreements with its subcontractors typically include standard flow-down language that incorporates the terms of the prime contract. Nonetheless, the prime contract also frequently requires that specific provisions be expressly stated in the subcontracts.
The teaming agreement said CGI "will receive" a 45 percent workshare of the awarded total contract value, but the "commitment may not be exactly 45 percent each year." It required the parties to enter into "good faith negotiations" for a subcontract after prime contract award.
The five-year (three base plus two options) multiple-award indefinite delivery/indefinite quantity prime contract has a ceiling value of USD497m.
Categories: October 29, 2010, Competition, Conflict of interests, Contract administration, Contract oversight, Contract performance, Decision making, Defense industry, Defense procurement, Department of Defense contractors, Prime contractors, Prime contracts, Prioritizing, Schedule slippages, Subcontractors, Subcontracts, Systems integration, Weapons systems
In addition to its prime contract with Falcon, USAID said First Option Project Construction Management Company, another construction firm run by Yasser Abbas, was awarded $296,933 in subcontracts by one of the agency's largest Western contractors in the West Bank, Colorado-based engineering giant CH2M HILL.
INPUT estimates that only 50 SDVOBs received $1 million or more in federal IT prime contract business last year, with no small SDVOBs eclipsing $40 million in total prime contract federal IT spending.
Universal Ensco Ltd., through a prime contract with Exxon Mobil Development Corporation, awarded VECO Alaska, Inc.
Prime Contract Description: Comprehensive construction management and inspection services.
The private owner/developer enters into a prime contract with the contractor who is unaware that the contract is legally a "public works" contract.
In June 1999, ADI signed a $587-million prime contract for the frigate upgrade (see "Australia Awards Frigate-Upgrade Contract," JED, July 1999, p.