What does TOR mean in CONSTRUCTION
A Term Of Reference (TOR) is a document which outlines the relationship between parties involved in a contract such as what each party can expect from the other regarding duties, rights, and responsibilities. It outlines how funds will be allocated and how decisions will be made among the parties involved. TORs are used to ensure that everyone is aware of their obligations under the agreement and are also used to assign ownership of tasks or project elements.
TOR meaning in Construction in Miscellaneous
TOR mostly used in an acronym Construction in Category Miscellaneous that means Term Of Reference
Shorthand: TOR,
Full Form: Term Of Reference
For more information of "Term Of Reference", see the section below.
Essential Questions and Answers on Term Of Reference in "MISCELLANEOUS»CONSTRUCTION"
What is a Term Of Reference?
A Term Of Reference is a document that describes the relationship between two parties outlining their obligations, rights and responsibilities. It also outlines when funds should be allocated and how decisions are made in regards to the agreement.
Who creates a Term Of Reference?
Generally it is created by both parties in an agreement, however there are cases where just one party will create it.
What types of documents may be included in a Term Of Reference?
Documents such as job descriptions, objectives, resources available, budgeting plans or timelines may all be included in the TOR depending on what has been agreed upon by both parties.
Is there an official format for creating a Term Of Reference?
While there is not an official format specifically for TORs they are typically written in a formal style with clearly defined sections explaining what roles and responsibilities each party has along with other details regarding the agreement.
When should a Term Of Reference be updated?
It's important to keep your TOR up to date especially if there have been any changes made to either side of the agreement such as budget increases or changes to job roles etc.
Final Words:
A Term Of Reference (TOR) is an important document which outlines the relationship between parties involved in any kind of contract, such as duties, rights or responsibilities and can help assign ownership of tasks or project elements easily and efficiently. It's important for both sides to keep their TOR up-to-date at all times so that there are no unexpected surprises down the line.
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