The measures expressed as a probability of the ability of a product to function successfully when required, for the period required, in the specified environment. Remedy Contract . The means by which a contractual right or obligation is enforced or the violation of such a right is prevented, reduced or compensated. Remedies may be defined in the contract, by agreement between the parties such as by accord and satisfaction, by arbitration, by operation of law or judicial remedy such as by action or suit. Renegotiation A redetermination of agreed contract or pricing terms due to changed requirements or conditions or in accordance with a previous agreement.
Some contracts provide for renegotiation at a stated time or under stated conditions.
Repair Includes the adjustment of a machine, instrument, electrical device, etc., in order to restore the article to its original operating condition, as well as any minor physical alterations necessary to complete such restoration. Repair normally involves the correction of specific defects only, whereas overhaul will entail replacement of both worn and damaged parts or parts for which service life has expired. Overhaul is normally effected only after expiry of service life due to hours of use or elapsed time. A statement made expressly or by implication such as by conduct. In the law of contracts, it is a statement made by one of the parties to the contract to the other, before or at the time of entering into the contract, of some matter relating to the contract.