What is LONG-TERM CONTRACTS (LTC)?

Contracts over a period of one year in length with construction performance related activities. Residential and commercial construction contracts are typical for this type.

More On This Topic



Link to This Definition
Did you find this definition of LONG-TERM CONTRACTS (LTC) helpful? You can share it by copying the code below and adding it to your blog or web page.
Written and fact checked by The Law Dictionary