Define: Realized Savings
Realized Savings means the surplus of budgeted funds over the amount expended or owed by an [organization] for any task, provided all terms for the task are definite and absolute.
Legal accuracy standard set & glossary spot-checked by Imad Mohammed Nazar , Skadden-trained M&A lawyer, Legal Engineer at GenieAI
Realized Savings means the surplus of budgeted funds over the amount expended or owed by an [organization] for any task, provided all terms for the task are definite and absolute.
Relevant Circumstances
- When a public body claims back unspent budget at the end of a project
- If gainshare or savings-share clauses depend on documented underspend
- Where calculation of realised savings requires final, absolute completion of work