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;
Industry Best Practice means in any circumstances the exercise of the highest degree of skill, care, prudence and foresight reasonably to be expected of persons carrying out the activities contemplated by this Contract, in the petroleum industry worldwide and includes, in respect of the relevant activities, Good Oil Field Practice;
Industry Best Practice means the highest standards (including any relevant Australian, British, American or other international standard), practices, methods and procedures generally followed or approved by relevant industries and suppliers anywhere in the world (and no lower than the standards in Australia) for the work required under the Order and that degree of skill, diligence, prudence and foresight which would reasonably and ordinarily be expected from a skilled and experienced supplier engaged in comparable works, including without limitation in relation to environmental management and occupational health and safety.
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 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 globally recognized information security management standards such as those established by the International Organization for Standardization, the International Electrotechnical Commission, the Information Systems Audit and Control Association, and the National Institute of Standards and Technology, such as ISO/IEC 27001 and ISAE 3402 SOC 2.