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Implementation Assurance
Written guarantee issued by a third-party guarantor (usually bank) provided to the Contracting Authority. Intended to ensure the Private Party will perform all contractual obligations.
Quality Assurance
The process and practices implemented to ensure that products or services meet established quality standards and customer expectations.
Written / Electronic Guarantee
Written or electronic guarantee issued by a third-party guarantor (usually a bank) provided to the Contracting Authority and intended to demonstrate the bidder’s commitment and seriousness in the bidding process.
Implicit
Something that is understood or implied but not explicitly expressed or stated.
Corrective Controls
Control that reduce impact to the organization when adverse incidents occur.
Directive Controls
Controls that are put in place to cause or encourage a desirable event to occur.
Preventive Controls
Controls that are put in place to stop a specific action from taking place.
Contingency
A specific action or plan established to address a possible future event, such as a contingency plan for managing financial crises or unexpected developments.
Private Placement
An offer of securities which falls within one of the categories of offers listed in Article 8 of the Rules on the Offer of Securities and Continuing Obligations; and for the purposes of the Investment Funds Regulations.
Specified Routes
The routes specified by the minister or competent authority for the transport of the imported or exported goods into/from the country or the goods in transit under a resolution.
Grievance Request
A formal complaint or request for redress made by an individual or group to address perceived injustices, disputes, or concerns within an organization or institution.
Unforeseen Circumstances
Events or conditions that may occur in the future, often with uncertain outcomes, and are considered in financial planning and risk management.
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