performance contract
noun[C]
ukusHR,LAW
alegalagreementin which oneorganizationagreestopayanother when theysuccessfullyfinishtheprojectortaskthey wereemployedto do:
Thestreetlightingserviceisdeliveredthrough aperformancecontract.
performance contracting
noun[U]
Since theperformancecontractingprocesshas been inoperation, there is aclearevidenceofimprovementindeliveryofservices.