Guaranteed Insurability Options are options built into a protection contract allowing the policyholder to increase the level of cover subject to a certain limit without evidence of health when a particular event has happened. Examples might be marriage, birth, retirement, increase in IHT liability.

Facilities management contracting is essentially a commercial services contract arrangement, whether that be for 'Hard FM' (which relates to the maintenance and fabric of a building such as mechanical and electrical services), 'Soft FM' (which relates to support services within a building such as cleaning, security and helpdesking) or 'Total fm' (which may combine a number of hard and soft facilities management services).

The final account is drawn up at the end of the project and shows how much the contractor will be paid for the works that were actually carried out, as opposed to those that were set out in the contract and taking into account all valid contractual claims. The final account may give rise to a balancing payment being made.

The competitive procedure with negotiation (negotiated procedure) is a method of procurement'>public procurement under which the contracting authority is able to negotiate with pre-qualified bidders by applying the evaluation criteria to the interim and final bid. The authority is also able to negotiate the bid and terms of contract with the successful bidder.

The competitive procedure with negotiation (negotiated procedure) is a method of procurement'>public procurement under which the contracting authority is able to negotiate with pre-qualified bidders by applying the evaluation criteria to the interim and final bid. The authority is also able to negotiate the bid and terms of contract with the successful bidder.

The Pensions Regulator was established under the Pensions Act 2004 to replace the dysfunctional OPRA in April 2005. Its main purposes are to: protect the benefits of members of company pension arrangements (whether trust or contract based); keep claims on the Pension Protection Fund to a minimum; and facilitate good pension administration.

A pension scheme was contracted-out where it provides certain benefits in place of the state second pension. These schemes paid lower National Insurance contributions. Members were contracted out if they were in employment that was contracted out by reference to either an occupational pension scheme or they had elected to contract out using a personal pension plan.

The period, also known as the defects rectification period, following practical completion during which the employer can notify the contractor of defects that have manifested, and the contractor has a right/responsibility for remedying such defects. The length of the defects liability period will be specified in the building contract and is usually six to twelve months.

Concerned entirely with national or domestic issues, and all aspects of the arbitration proceedings relate to a single jurisdiction. For example, a commercial dispute between two English companies concerning a domestic supply contract governed by English law, seated in London, and conducted ad hoc in accordance with the provisions of the Arbitration Act 1996 (AA 1996)

An agreed rate of damages paid by the contractor to the employer for a particular breach of contract—most commonly delay to completion of the works (usually a rate per day or week of delay). Other types of LADs include performance LADs and target internal area LADs.

Additional costs incurred by a contractor due to disturbance to the regular progress of the works caused by matters within the employer's control or by breaches of contract by the employer. Loss and expense costs may include increased preliminaries, overheads, loss of profit, loss of productivity and interest/finance charges.

Governing law is the law stipulated in a contract to determine a dispute. Where there is no valid governing law clause, the law to be applied, the applicable law, will be determined in accordance with the relevant regulation, convention, legislation or common law rules.