Your Free Online Legal Dictionary • Featuring Black’s Law Dictionary, 2nd Ed.

CONTRACT CLAUSE

Provision provided in a scripted agreement or deal. A deal clause will approach a side of the deal between parties, specifying the agreement for ensuring that all parties comprehend what they should

CONTRACT CLOSEOUT COSTS

Site diffusing cost, junk and waste clearing cost, and other costs related to timely closure of a deal.

CONTRACT COST ANALYSIS

Examination and review of price data, provided by a builder to a main (client), for appraisal of its truth and rationality pertaining to potential economies and accomplishable degree of efficiency.

CONTRACT DOCUMENTS

Processed deals, additional conditions, draftings, classifications and other archives related to a deal.

CONTRACT EMPLOYEE

A worker who works for a person under a contract. Contract employees are hired for performing definite jobs at a given rate. Contract employees do not add to the regular staff and

CONTRACT FINANCING PAYMENTS

Money given to a contractee from a contractor for the purpose of making payments like advance, interim, performance payments, advancement payments, or/and other similar payments

CONTRACT FOR SALE OF LAND

Agreement that contains all the conditions agreed upon by all parties involved. It has to be written and should include the buyer. See, How Does A Land Contract Work?

CONTRACT FOR SERVICE

Deal for a work taken upon by anyone who is self employed. He or she is free to employ others to complete the job, he or she will be the only one

CONTRACT GRADE

Characteristic of merchandise which can be transferred against any future deal, according to standard of future exchange based on which the merchandise is traded.

CONTRACT HIRE

Kind of vehicle renting in which the renting company undertakes sustenance and restoration of the automobile and provides other related services (like offering a substitute vehicle), when a fixed fee is payed.

CONTRACT HOLDER

A person or a firm designated as the proprietor of a financial liability or money which is expected to be received (as a return) at a later date. The deal holder gets

CONTRACT LAW

Group of laws that control oral or scripted agreements related to trade of commodities and services, properties and money. It also contains topics related to qualities of contractual duties, restriction of activities,

CONTRACT LINE ITEM

Procurement article conclusively specified in a request for bids or IFB paper. The bidder is expected to give separate pricing for this item. Deals for line articles may, under the conditions of

CONTRACT LOGISTICS

Planning, execution, and command of provision mechanism provided by a third party through a deal.

CONTRACT MANAGEMENT

Administrative functions related to dealing with contracts, like 1) request to bid, 2) evaluating bid, 3) allotment of contract, 4) Implementing contract, 5) measuring completed work, and 6) computing payments. It also

CONTRACT MANUFACTURING

A firm producing goods under the brand name of a different firm. Contract producers deliver such assistance to many firms (even competitors) depending on theirs or their customer

CONTRACT MARKET

A trade which is recorded with the Commodity Futures Trading Commission or CFTC for trading in particular item or options deals. Check Commodity Futures Exchange; Derivatives.

CONTRACT MODIFICATION

Scripted, one-sided (but included in the ambit of adjustment clause), or agreed together bilaterally, change. A deal alteration may bring in or call off specifications or conditions of a already existing deal,

CONTRACT MONTH

The particular month when a transfer would occur in closure of a deal, in case of futures trading.

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