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What Is a Performance Contract?

A performance contract is a means of improving the performance of public enterprises and government departments. It is an agreement between the government and an agency or a performer and a venue which creates all-purpose goals, targets for determining presentations and provides a certain incentive for the achievement of these goals.

In law, this contract requires the act of doing. Each person who is involved in the performance contract is required to fulfill and perform the terms stipulated in the agreement. This type of arrangement involves security, compensation, venue and schedule. Both parties discuss obligations and rights in the performance. This contract is also for hiring performing artists such as musicians, comedians and more. For instance, an artist entered a contract to do a certain performance and in return he would be paid a certain amount after doing the act. All of the agreement should be stated in the contract such as the type of performance, and the outcome needed for the incentive. Establishing a performance contract is not a fast procedure, it may take a long time especially if both parties could not agree on the terms of the contact. Often, the issues involved in the settlement are the available equipment to be used by the performer, comfortable accommodations not only for the performer but also for the staff included in the performance, and safety. Generally, the venue or the hiring party is the one adjusting to the terms of the performer although both parties work their way together to arrive at an agreement which will satisfy everyone.

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