Abbreviations for Contract: A Complete Guide
Contracts are an essential part of any business, but they can be complex and difficult to understand. One way to simplify contracts is to use abbreviations. Abbreviations help to save space, simplify language, and make contracts easier to read. In this guide, we will explore the most common abbreviations used in contracts.
A/C – Acceptance
A/W – As Well
ADR – Alternative Dispute Resolution
AG – Agreement
AKA – Also Known As
AM – Ante Meridiem (Before noon)
AOR – Agent of Record
AP – Accounts Payable
AR – Accounts Receivable
ASAP – As Soon As Possible
B2B – Business to Business
B2C – Business to Consumer
CA – Confidentiality Agreement
CBA – Collective Bargaining Agreement
CC – Carbon Copy
CEO – Chief Executive Officer
CFO – Chief Financial Officer
CIC – Change in Control
COB – Close of Business
COP – Cost of Production
CPA – Certified Public Accountant
CR – Credit Report
CSA – Customer Service Agreement
D/B/A – Doing Business As
DBE – Disadvantaged Business Enterprise
DOS – Date of Service
ETA – Estimated Time of Arrival
FAQ – Frequently Asked Questions
FTE – Full-Time Equivalent
FYI – For Your Information
Gov’t – Government
GS – General Services
HR – Human Resources
IBID – Ibidem (In the same place)
IC – Independent Contractor
IPO – Initial Public Offering
IR – Internal Revenue
IRB – Institutional Review Board
IRS – Internal Revenue Service
K – Contract
KPI – Key Performance Indicator
LLC – Limited Liability Company
MIC – Minimum Import Content
MOU – Memorandum of Understanding
N/A – Not Available
NDA – Non-Disclosure Agreement
NTE – Not To Exceed
OEM – Original Equipment Manufacturer
P&L – Profit and Loss
PPE – Personal Protective Equipment
PR – Public Relations
Q&A – Questions & Answers
QTY – Quantity
R&D – Research and Development
RFI – Request for Information
RFQ – Request for Quotation
RFP – Request for Proposal
ROE – Return on Equity
ROI – Return on Investment
SIC – Standard Industrial Classification
SLA – Service Level Agreement
SSN – Social Security Number
T&C – Terms and Conditions
TBD – To Be Determined
TIA – Thanks in Advance
TOS – Terms of Service
TX – Tax
UCC – Uniform Commercial Code
VP – Vice President
WIP – Work in Progress
WTO – World Trade Organization
Conclusion
Using abbreviations for contract terms can significantly simplify and streamline the language of any contractual agreement. By educating yourself on the common abbreviations used in contracts, you can better understand and navigate the complex world of business deals. Remember that the list of abbreviations provided in this guide is not exhaustive, and there may be other abbreviations used depending on the sector or the type of contract.