Deobligation

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Definition: Deobligation

Deobligation

Quick Summary of Deobligation

Reducing the obligations on a contract.

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Full Definition of Deobligation

Deobligation is a downward adjustment of the obligations recorded in a contract document.

It is typically caused by factors such as:

  • the termination of part of the project,
  • a reduction in material prices,
  • an under-run of costs, or
  • a correction to recorded amounts.

This is done by cancelling a project, reducing costs, overrunning costs, or correcting the amounts recorded.

Cite Term

To help you cite our definitions in your bibliography, here is the proper citation layout for the three major formatting styles, with all of the relevant information filled in.

Page URL
https://payrollheaven.com/define/deobligation/
Modern Language Association (MLA):
Deobligation. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
May 18, 2024 https://payrollheaven.com/define/deobligation/.
Chicago Manual of Style (CMS):
Deobligation. PayrollHeaven.com. Payroll & Accounting Heaven Ltd.
https://payrollheaven.com/define/deobligation/ (accessed: May 18, 2024).
American Psychological Association (APA):
Deobligation. PayrollHeaven.com. Retrieved May 18, 2024
, from PayrollHeaven.com website: https://payrollheaven.com/define/deobligation/

Definition Sources

Definitions for Deobligation are sourced/syndicated and enhanced from:

  • A Dictionary of Economics (Oxford Quick Reference)
  • Oxford Dictionary Of Accounting
  • Oxford Dictionary Of Business & Management

This glossary post was last updated: 27th December, 2019 | 0 Views.