Variation definition: Copy, customize, and use instantly
Introduction
The term "Variation" refers to a change or modification in the terms, conditions, or characteristics of an agreement, product, service, or process. Variations can occur due to numerous factors such as evolving requirements, unforeseen circumstances, or mutual agreement between parties involved.
In contractual and business contexts, understanding "Variation" is crucial for managing risks, ensuring flexibility, and addressing potential changes that may impact performance, timelines, costs, or other critical elements. The term is often used to define adjustments made throughout the duration of an agreement or project.
Below are various examples of how "Variation" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Variation" in contract terms
This definition connects "Variation" to contract modifications.
"Variation" means a change or modification to any term, condition, or clause of a contract, including adjustments made through mutual agreement or following a specific event.
Definition of "Variation" in product specifications
This definition ties "Variation" to product characteristics.
"Variation" refers to any deviation or difference in the specifications, quality, or features of a product from its originally agreed-upon standards, which may occur during production or delivery.
Definition of "Variation" in tax obligations
This definition links "Variation" to tax-related changes.
"Variation" means a modification in the tax obligations of a party, including changes in rates, exemptions, or applicable rules, which may arise due to new laws or regulations.
Definition of "Variation" in employee compensation
This definition connects "Variation" to compensation structures.
"Variation" refers to fluctuations or differences in employee compensation, such as bonuses, overtime pay, or commissions, based on performance or company policies.
Definition of "Variation" in legal responsibilities
This definition links "Variation" to legal duties and obligations.
"Variation" means any change to the responsibilities or obligations of a party under a legal agreement, including shifts in scope, timeline, or terms as specified in a contract.
Definition of "Variation" in environmental conditions
This definition ties "Variation" to environmental factors.
"Variation" refers to differences or changes in environmental conditions such as temperature, humidity, or air quality, which may impact operations, health, or safety.
Definition of "Variation" in pricing models
This definition connects "Variation" to changes in pricing.
"Variation" refers to a difference or fluctuation in pricing, which may arise from market forces, demand, or contractual stipulations that adjust the cost of goods or services.
Definition of "Variation" in project timelines
This definition ties "Variation" to changes in project schedules.
"Variation" means any alteration to the scheduled completion date, milestones, or deadlines of a project, resulting from delays, extensions, or accelerated timelines.
Definition of "Variation" in insurance policies
This definition links "Variation" to adjustments in insurance coverage.
"Variation" refers to any change or modification to the terms, premiums, or coverage of an insurance policy, including additions, exclusions, or amendments.
Definition of "Variation" in financial statements
This definition connects "Variation" to changes in financial reporting.
"Variation" refers to differences between financial figures, such as revenue, expenses, or profits, from one period to another, highlighting trends, deviations, or anomalies.
Definition of "Variation" in design specifications
This definition ties "Variation" to alterations in design parameters.
"Variation" means any change or modification to the original design, drawings, or specifications for a product, building, or service, typically approved by the relevant parties.
Definition of "Variation" in employee work schedules
This definition connects "Variation" to changes in work hours.
"Variation" refers to changes in an employee's work schedule, including shift swaps, adjustments in hours, or temporary schedule modifications based on operational needs.
Definition of "Variation" in healthcare treatments
This definition links "Variation" to differences in medical approaches.
"Variation" means differences in treatment plans or healthcare practices, which may depend on patient needs, local protocols, or medical advancements.
Definition of "Variation" in market conditions
This definition ties "Variation" to shifts in market dynamics.
"Variation" refers to fluctuations in market conditions, including changes in supply, demand, competition, or external factors, which influence pricing, consumer behavior, and business strategies.
Definition of "Variation" in contract performance
This definition connects "Variation" to the execution of a contract.
"Variation" means a deviation in the expected performance or delivery under a contract, which could affect timelines, quality, or scope of work as defined by the agreement.
Definition of "Variation" in product development
This definition links "Variation" to changes in the product creation process.
"Variation" refers to adjustments or differences made during the product development process, including design, features, or functionality, which may arise from feedback or testing.
Definition of "Variation" in construction contracts
This definition ties "Variation" to building project agreements.
"Variation" means any modification or change to the scope of work outlined in a construction contract, whether due to design changes, unforeseen circumstances, or regulatory requirements.
Definition of "Variation" in customer service agreements
This definition connects "Variation" to service delivery.
"Variation" refers to any modification in the terms or quality of customer service delivery, such as response time, service options, or support channels, as agreed in the service contract.
Definition of "Variation" in educational curriculums
This definition ties "Variation" to course structure.
"Variation" refers to changes in educational curriculums or course content, which may be made to reflect new developments, technologies, or learning objectives.
Definition of "Variation" in intellectual property laws
This definition links "Variation" to IP rights and usage.
"Variation" means any change in the way intellectual property is used, licensed, or protected, potentially including amendments to patents, copyrights, or trademarks.
Definition of "Variation" in supply chain management
This definition connects "Variation" to supply and logistics operations.
"Variation" refers to differences in the availability, quality, or delivery timelines of materials, products, or services within the supply chain, affecting production schedules or order fulfillment.
Definition of "Variation" in international trade agreements
This definition ties "Variation" to trade terms and conditions.
"Variation" means any alteration to the terms of trade, such as tariffs, quotas, or product specifications, which affect the exchange of goods and services between countries.
Definition of "Variation" in labor unions
This definition links "Variation" to collective bargaining agreements.
"Variation" refers to any adjustment or modification made to labor agreements, such as changes in wages, benefits, or working conditions, as negotiated by unions and employers.
Definition of "Variation" in performance evaluation
This definition connects "Variation" to assessment results.
"Variation" refers to differences in performance metrics, such as productivity, quality, or goals achieved, used to evaluate employee performance or business outcomes.
Definition of "Variation" in technological advancements
This definition ties "Variation" to changes in tech developments.
"Variation" means any modification or improvement in technology, including software updates, hardware upgrades, or new innovations that impact how systems or products function.
Definition of "Variation" in food regulations
This definition links "Variation" to changes in food standards.
"Variation" refers to modifications in food regulations or guidelines, including new safety standards, ingredient labeling, or health certifications.
Definition of "Variation" in legal claims
This definition connects "Variation" to changes in claims or lawsuits.
"Variation" means a change in the nature, scope, or details of a legal claim, including amendments to a filed complaint or the introduction of new evidence.
Definition of "Variation" in data analysis
This definition ties "Variation" to data trends.
"Variation" refers to the differences observed in data sets, such as shifts in averages, trends, or outliers, which may indicate underlying patterns or cause-and-effect relationships.
Definition of "Variation" in financial modeling
This definition connects "Variation" to financial forecasting.
"Variation" means any changes or deviations in assumptions, inputs, or outputs in a financial model, which affect projections for revenue, expenses, or profitability.
Definition of "Variation" in climate studies
This definition links "Variation" to environmental research.
"Variation" refers to differences in climate data, such as temperature, precipitation, or atmospheric pressure, which are analyzed to understand climate trends and predict future conditions.
Definition of "Variation" in product pricing
This definition ties "Variation" to price changes.
"Variation" refers to fluctuations in the price of a product or service, influenced by factors like demand, market conditions, or promotional strategies.
Definition of "Variation" in credit risk assessments
This definition connects "Variation" to financial risk evaluations.
"Variation" means a difference in the creditworthiness or risk profile of a borrower, which may be influenced by changes in financial stability or external economic conditions.
Definition of "Variation" in media production
This definition links "Variation" to creative content changes.
"Variation" refers to differences in media production elements such as storyline, cast, or special effects, which affect the final content released to the audience.
Definition of "Variation" in renewable energy sources
This definition ties "Variation" to energy production levels.
"Variation" refers to fluctuations in renewable energy production, such as changes in solar or wind energy output, due to weather conditions or seasonal factors.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.