specifications SPECS

Specifications is a broad term to describe a detailed summary of desired attributes for a product or service being sought. Insurance specifications, for example, provide a detailed description of the coverage types, amounts, and policy provisions submitted to an insurer to use in preparing a proposal.

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Insurance specifications also typically include the underwriting data the insurer will need to price the required coverages. In construction, specifications are provided by the owner to the architect outlining the desired functions and performance attributes of the project.