Is Flowdown a word?
A flow down clause is a contract provision by which the parties incorporate the terms of the general contract between the owner and the general contractor into the lower tier agreement. It may also be referred to as a pass-through or conduit clause.
Is Flowdown one word or two?
English translation: the explanation is as follows….
| English term or phrase: | flowdown |
|---|---|
| Selected answer: | the explanation is as follows…. |
| Entered by: | Katerina K |
What is Flowdown requirement?
A flow-down clause (also referred to as a pass-through or conduit clause) is usually found in a construction contract and provides that subcontractors will be bound to the general contractor in the same fashion as the general contractor is bound under its contract with the property owner.
What FAR clauses Flowdown to subcontractors?
FAR clauses included in Government contracts that prime contractors are required to flow down to their subcontractors in their subcontracts. Agency supplemental regulations also include clauses with flow down requirements. Flow Down Clauses can significantly impact the obligations and risk of performing a subcontract.
What is the conduit clause?
The subcontract typically has “pass through” or “conduit” and “pay if paid” clauses. These clauses bind the subcontractor or supplier to the general contract terms and deny any extra time or money for the subcontractor or supplier unless the general contractor obtains relief from the owner.
What is a contractual Flowdown?
What is the meaning of flow down and how do you define it? A flow down clause is a contractual provision where a contracting party (prime contractor) legally binds another party (subcontractor) to the terms and conditions of contract (the prime contract) between the prime contractor and a third party (client).
What is a prime contract flow down?
• A flow down clause is a contract provision by which the parties incorporate the terms. of the general contract between the owner [Government]and the general contractor [Prime Contractor] into the lower tier agreement.
What does Flowdown clause mean?
• A flow down clause is a contract provision by which the parties incorporate the terms. of the general contract between the owner [Government]and the general contractor [Prime Contractor] into the lower tier agreement. It may also be referred to as a pass- through or conduit clause…
What is Dfars Flowdown?
The Federal Acquisition Regulation (FAR) and the Defense Federal Acquisition Regulation Supplement (DFARS) requires Federal prime contractors and subcontractors, small and large alike, to flow-down certain clauses from their contracts when buying items from their suppliers and subcontractors.
Does the FAR apply to subcontractors?
Subcontractor status is important to prime and subcontractors. A federal prime contractor is required to flow-down multiple Federal Acquisition Regulation (“FAR”) clauses to its subcontractors.
What is a flow down clause?
What is an excessive pass through charge?
Excessive pass-through charge, with respect to a Contractor or subcontractor that adds no or negligible value to a contract or subcontract, means a charge to the Government by the Contractor or subcontractor that is for indirect costs or profit/fee on work performed by a subcontractor (other than charges for the costs …
What is flow down and how do you define it?
What is the meaning of flow down and how do you define it? A flow down clause is a contractual provision where a contracting party (prime contractor) legally binds another party (subcontractor) to the terms and conditions of contract (the prime contract) between the prime contractor and a third party (client).
What is a flow down clause in law?
Flow Down Clause Law and Legal Definition. A flow down clause is a contract provision by which the parties incorporate the terms of the general contract between the owner and the general contractor into the lower tier agreement.
What are flow down terms in Cascade?
Flow Down Terms means the licence terms and acceptable use policy of a Vendor for use of a Service. Flow Down Terms are notified to End Customers for acceptance on CASCADE and may be updated from time to time;
What are “flow-down” obligations?
In the context of a subcontractor, in most cases, “flow-down” obligations tend to involve terms relating to: For instance, a general contractor may indicate that it will pay the subcontractor when the end client pays for the services rendered.