TPT Tool Terms & Definitions
- the upkeep of property or equipment.
- an activity that returns real property to a usable state from a partial or total state of inoperability or nonfunctionality.
- the removal of one component or system of existing property or tangible personal property installed in existing property, including machinery or equipment, and the installation of a new component or system or new tangible personal property, including machinery and equipment, that provides the same or upgraded design or functionality, regardless of the contract amount.
- an activity or action that causes a direct physical change to existing property.
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