Long-Term Contract

Also found in: Acronyms.

Long-Term Contract

1. A contract to perform work over a significant period of time. For example, a construction company may have a contract to build a skyscraper, which may take several years.

2. A futures contract or similar instrument that does not expire for several months or longer.

3. See: Long-term lease.
References in periodicals archive ?
Commissioner, (68) the IRS derived five factors to limit the use of the long-term contract methods to those manufacturing contracts that share the characteristics of construction-type contracts:
Delayed reapplication method: The look-back method must be applied in the year in which a long-term contract is completed and in subsequent years for which adjustments in contract price and cost occur.
ARSENAL and Liverpool face a major fight to sign Valencia superstar Paco Alcacer from Valencia after the Spanish side began moves to tie him down to a long-term contract.
Summary: Liverpool goalkeeper Jose Reina insists he is fully committed to his long-term contract at the club.
A long-term contract to operate this service has been agreed with Classic Coaches.
A competitive long-term contract may also be considered part of the alliance during the life of the contract.
At the beginning of 2005 contracts were finalized with a core Japanese customer for a long-term contract for 300,000 metric tons per year, says Transnet.
The income or loss from the long-term contract will be allocated to the contributing partner, under Sec.
It's only fair, then, that any company that secured a long-term contract at excessive rates because of its own wrongdoing shouldn't be rewarded with many more years of unseemly profits.
ABERDEEN will open talks in the New Year with boss Ebbe Skovdahl over a new long-term contract.
According to Aiken, the key to success with subassembly starts with an honest talk with a customer and determining if it wants a long-term contract or is simply looking to outsource a temporary overload.
reached an agreement with its principal purchaser under the parties' long-term contract concerning 1995 prices and volumes for natural gas sales from Plains' Kansas Hugoton wells.

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