award

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award

Law
a. the decision of an arbitrator
b. a grant made by a court of law, esp of damages in a civil action

award

A communication from an owner accepting a bid or negotiated proposal. An award creates legal obligations between the parties.
References in periodicals archive ?
It seems that agencies focus their attention on awarding contracts, not on managing them once awarded (Schooner, 2004).
While this is an extreme example, it is very common for financial aid officers to invest considerable time in managing Literally hundreds of endowed funds and annual gifts with specific awarding restrictions.