Business / Agriculture / Contract: Written or oral agreement spelling out the parties’ understanding of how a commodity is to be produced and/or marketed, including specifications for quantity, quality, and price. Marketing contracts are commonly used for crops, while production contracts are more prevalent in the livestock industry. Contracts contrast to cash markets. Cash markets continue to dominate the agriculture sector, accounting for almost 70% of farm commodity sales in 1997. However, contracting could likely continue to grow as a risk management tool for farmers and a coordination tool for processors. Futures contracts provide a way to manage price risk that typically do not involve actual delivery of commodities.
Search Google for Contract:
Contract Adjective Synonyms: agreement, understanding, deal, bargain, arrangement, pact, commitment, obligation, compact
Contract Verb Synonyms: catch, acquire, get, come down with, develop, become infected with, go down with
Contract Noun Synonyms: engage, agree, promise, covenant, undertake
Business / Construction / Fixed Price Contract: A contract with a set price for the work. See Time and Materials Contract. MORE
Business / Agriculture / Contract For Future Sale: A sales contract under which a farmer agrees to deliver products of specified quality and quantity to a buyer for a specified price within a prescribed time frame. Contract sales are a growing practic MORE