Define: Salient characteristics

How is Salient characteristics defined in a legal contract?

• Salient characteristics means essential qualities of an item which ensure its intended use can be achieved. This term is often used when referring to a 'brand name or equal' purchase description. Seen in 15 SEC filings
• Salient characteristics means crucial traits of an item that allow it to perform its intended use effectively. This term is mainly associated with a brand-name-or-equal description, detailing the physical or functional characteristics that an equal product must possess to meet a recipient's needs. Seen in 2 SEC filings
• Salient characteristics means specific attributes that describe the physical and functional features of a material or service. These characteristics are mandatory requirements an equal product or material must hold for consideration as corresponding to the defined needs. Seen in 2 SEC filings

Note: The Genie AI Legal Assistant 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.

Search EDGAR for 'Definitions of salient characteristics' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant 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.

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Genie Definition 1

• Salient characteristics means essential attributes of an item enabling its intended use.

Relevant Contract Types

• Product Supply Contract
• Purchase Agreement
• Manufacturing Agreement

Relevant Circumstances

• Establishing new supplier relationships
• Negotiating procurement terms
• Developing new products or services

Relevant Sectors

• Manufacturing and Industrial
• Retail and eCommerce
• Technology and Software

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Genie Definition 2

• Salient characteristics means mandatory physical and functional traits required for equal product consideration.

Relevant Contract Types

• Quality Assurance Agreement
• Specs Agreement
• Service Level Agreement

Relevant Circumstances

• Defining standards for product or service delivery
• Ensuring compliance with specific performance levels
• Establishing competitive bidding processes

Relevant Sectors

• Information Technology and Services
• Consumer Goods and Services
• Healthcare and Pharmaceuticals

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