How is Compliance with Standards defined in a legal contract?
- Compliance with Standards means adhering to defined rules or models, which may vary from supplier self-assessment to assessment by an independent accrediting body. The specification of these standards is determined by their user, who could operate in a regulatory role. Based on the sphere of application, the enforcement of these regulations can be undertaken by various levels of governance. For instance, medical device regulation falls under federal oversight while most workplace safety regulations are under provincial oversight. For Occupational Health and Safety, standards can be referred to, like safety footwear as an example. Seen in 1 SEC filing.
Note: pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.
yourself to verify these results. We are always keen to point people to source documents.
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Which definition should you use?
π€ has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.
Genie Definition 1
- Compliance with Standards means adherence to benchmarks set by an [authority], validated through supplier self-evaluation or external accreditation.
Relevant Contract Types
- Service Level Agreement
- Supply Contract
- Software License Agreement
- Business Partnership Agreement
- Manufacturing and Supply Agreement
Relevant Circumstances
- When a business contracts with a supplier or vendor
- When software or hardware products are being licensed
- When forming a business partnership
- When engaging a manufacturer or distributor
Relevant Sectors
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