Industry Best Practice definition

Industry Best Practice means, in relation to any services, the exercise of the skill, diligence, prudence, foresight and judgement which would be expected from a highly skilled and experienced and well-resourced person engaged in the same type of undertaking under the same or similar circumstances, applying the best standards and practices currently applied in, as the circumstances require, the relevant industry;

Examples of Industry Best Practice in a sentence

  • Services will be performed using new materials, plant and equipment and proper and tradesman like workmanship in accordance with Industry Best Practice.

More Definitions of Industry Best Practice

Industry Best Practice means with respect to any service, function or responsibility to be provided or carried out by the Supplier, means a standard of service, in terms of accuracy, reliability, completeness, quality, timeliness and efficiency, equal to or better than that being provided at the relevant time by the best managed and performing organisations providing services (in Australia) similar to the Services (or part of the Services) as the case may be.
Industry Best Practice means the utilisation of up-to-date and advanced proven processes, techniques, technology or methodologies, and will be interpreted having regard to:
Industry Best Practice means processes and technology processes that form of practice reasonably expected of a leading supplier in the same or substantially similar sector seeking to comply with its regulatory and contractual responsibilities.”
Industry Best Practice means the standard of care, attention, diligence, expertise, knowledge, methods and practice expected of a competent and experienced professional in the IT and Cyber Security profession;
Industry Best Practice means at any time the exercise of that degree of care, skill, diligence, prudence, efficiency, foresight and timeliness which would reasonably and ordinarily be expected at such time from a first class and expert supplier, to a customer of services similar to the Services, seeking to comply with its contractual obligations and complying with Applicable Laws;
Industry Best Practice means the exercise of that degree of skill, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced operator engaged in offering regulated gambling services.