(UK, pensions) A type of UK pension scheme with specific benefits, sold prior to July 1988, available to the self-employed or employees that were not offered a workplace pension.

employment contract without a set date for termination

plural of open-book contract

A contract in which the buyer and seller of work or services agree on (i) which costs are remunerable and (ii) the margin that the supplier can add to these costs. The project is then invoiced to the customer based on the actual costs incurred plus the agreed margin.