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Patent Defect
A defect that is obvious or easily
found by a reasonable inspection.
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Pay-Per-Click (PPC)
An internet advertising model
in which an advertiser pays a sum of money to
the publisher of a website when an end user
clicks on its advertisement.
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Payback Period
The time required to recover an
investment through net cash flow.
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Payment Bond
A financial or contractual
instrument issued by a surety that guarantees
that subcontractors will be paid for labor and
materials expended on the contract.
Acceptable forms of payment bonds may
include a cashier's check, certified check, or
irrevocable letter of credit issued by a
financial institution; a surety or blanket bond;
United States Treasury bond; or certificate of
deposit. Also known as Labor and Materials
Bond.
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Payment Terms
The terms applicable to a
payment, including any discount. See also:
Prompt Payment Discount, Cash Discount,
Discount.
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pCard
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PDF
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Pecuniary
Of or pertaining to money.
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Peer/360 Evaluation
A multiple-input employee
assessment based on feedback from a full
representation of an employee’s colleagues,
including superiors, supervisors,
subordinates, peers, internal clients, and
other stakeholders to provide comprehensive
professional feedback.
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Penalty Charge
A clause in a contract specifying
the sum of money to be paid if the contractor
defaults on the terms of the contract,
particularly with respect to time. See also:
Liquidated Damages, Damages.
