R

Items that can be rebuilt or overhauled and returned to use again.

The payment of invoices by a Contractor via a third party financier.  The financier undertakes to pay the invoices faster than the purchaser would otherwise do, and in return, receives certain fees and charges.  The purchaser then pays the financier the amount at an agreed time.  It can be utilised to assist with cash flow management for large contractors.

A table which allocates responsibility for matters (usually obligations under a development approval) to either the Principal or the Contractor

Formerly known as the IAMA – Institute of Arbitrators and Mediators, Australia’s largest arbitration and mediation service

Events which may entitle the contractor to extensions of time but not delay costs.

For the purposes of the Corporations Act 2001 (Cth), a related party of a public company includes an entity that controls it and its directors (if the entity is not a body corporate, each person making up the controlling entity) and the directors of the public company (as well as their parents and children).

Where a body corporate is a holding company, a subsidiary, or a subsidiary of a holding company of another body corporate, the first-mentioned body and the other body are related to each other for the purposes of the Corporations Act 2001 (Cth).

An invitation to tenderers to submit an offer to supply goods and/or services in accordance with the Request for Tender. The Request for Tender will frequently require the tenderer to make an offer on the terms set out in the RFT, which may then be accepted by the party requesting the tender.

The termination of a contract by returning the parties back to the position they held before the contract was entered into. The contract is treated as if it never existed and the parties are discharged from the duty to perform their contractual obligations.

Arises in two contexts: (a) As a legal remedy for the restoration of losses, whether it be property or money caused by a breach of trust, fiduciary duty, breach of contract or even in cases of negligence. (b) As a separate branch of law distinguished from the common law and equity.