Negotiated contract

negotiated contract

[nə′gō·shē‚ād·əd ′kän‚trakt] (industrial engineering) A purchase or sales agreement made by a United States government agency without normally employing techniques required by formal advertising.

Negotiated contract

An agreement between a design professional and owner, or between a contractor and owner, reaching a mutually agreed upon price based on the scope of professional services, or extent of construction work.

negotiated contract

A building contract in which the amount of the contract sum is established by agreement between the owner and the contractor, rather than by putting the work out to bid.