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Closed Framework Agreement
A formal agreement between one or more government entities and suppliers or contractors, containing the conditions and regulations of the contract, where no additional suppliers or contractors may join once the agreement has been concluded.
Open Framework Agreement
A formal agreement between one or more government organizations and suppliers or contractors, containing the conditions and regulations of the contract, which allows additional suppliers or contractors to join during the term of the agreement.
Shareholders Agreement
The document that the special purpose vehicle (SPV) equity providers enter into, setting out how they will work together to manage it.
Enterprise Risk Management (ERM)
A systematic approach to identifying, assessing, and managing risks across an entire organization to achieve business objectives and protect assets.
Bidding Name
The registered in the Etimad Platform by the owner (the government entity).
Stakeholders
Parties with a direct or indirect interest or involvement in the project or that may otherwise be affected by it. These may include public and private sector organizations, as well as private individuals, community representatives or non-profit bodies.
Exemption from Import Duties
Clearance of goods for home use free of import duties and taxes, irrespective of their normal tariff classification or normal liability, provided that they are imported in specified circumstances and for specified purposes.
Bankruptcy
A legal process in which an individual or business declares inability to repay debts, leading to asset liquidation or restructuring.
Disbursed Payment Order
The disbursed payment order in the financial system by which transfer or ministerial check is issued.
Oil Revenues
Income generated by a country from the sale of oil and oil-related products, which can be a significant source of revenue for oil-producing nations.
Short Selling
The practice of selling borrowed stocks with the expectation of buying them back at a lower price.
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