theory-a well-substantiated explanation of some aspect of the natural world; an organized system of accepted knowledge that applies in a variety of circumstances to explain a specific set of phenomena; theories can incorporate facts and laws and tested hypotheses; true in fact and theory.
wikiHow to Write Vendor Contracts. Some companies and organizations partner with vendors to provide a better product or service. Other businesses use vendors as contractors, providing something they need either on a one-time basis or an ongoing schedule. For example, many companies use vendors to supply technology, cleaning services, office equipment, or transportation. Anytime you use a vendor, you and the vendor should both sign a contract.
Popular Terms. In contract negotiations, the commitment by the vendor that the value of an interim estimate (plus contingency allowances) will not exceed the amount of the firm proposal and estimates to be submitted at a later date.