Artifact: Contracting Vehicle
This is a mutually binding agreement between the Acquirer and the Vendor defining the obligations of each.
Domains: Project Management
Purpose

The purpose of a Contracting Vehicle is to capture an agreement reached between the vendor and the Acquirer. Subjects covered generally include, but are not limited to, responsibilities and authorities, applicable terms and law, technical and business management approaches, contract financing, and price. A Contracting Vehicle serves as a legal relationship subject to remedy in the courts.

The content and focus of a Contracting Vehicle depends on the type of agreement it represents. Following is list of some of the Contracting Vehicle types:

Although all project artifacts are subject to some form of review and approval, the legally binding nature of a Contracting Vehicle usually means that it will be subjected to a more extensive approval process. In all cases, a primary focus of the review and approval process should be to ensure that the language contained in the Contracting Vehicle artifact describes what the vendor is offering and what the Acquirer is obligating to give in return.

 

Relationships