Repayment Contract: A contract between a water user’s organization and the Bureau of Reclamation by which the organization obligates itself to repay a share of the reimbursable construction and other costs (not all construction costs are reimbursed by water users) of a Bureau project in installments determined in accordance with reclamation law in exchange for delivery of water.

 

Related Words

Repayment Contract: A contract between a water user’s organization and the Bureau of Reclamation by which the organization obligates itself to repay a share of the reimbursable construction and other costs (not . . . View Full Definition

Open Contracts: Contracts that have been bought or sold without completion of the transaction by subsequent sale or purchase, or by making or taking actual delivery of the financial instrument or physical commodity.

Office Of Federal Contract Compliance (OFCCP): Division of the Employment Standards Administration in the Department of Labor responsible for enforcing three statutes for federal contractors and subcontractors: Executive Order No. 11246, . . . View Full Definition

No Capacity To Contract: The inability of a person to enter into a valid contract under any circumstances. Such inability can arise when a person has been adjudicated insane or is an officer of a corporation who is . . . View Full Definition