Long-Term Contract

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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.
Farlex Financial Dictionary. © 2012 Farlex, Inc. All Rights Reserved
References in periodicals archive ?
Son said international roasters and traders expect processed cashew prices to fall and so do not sign long-term contracts with exporters.
It believes FIS' technology products and services are mission-critical for its customers, as evidenced by strong market presence, long-term contracts and high renewal rates.
This is what GECF member countries have been guaranteeing to the markets in a sustainable manner, comforting their concern over the security of supply." In addition, he noted the bulk of LNG supply, around 80%, is still under long-term contracts and most of it is with destination clauses.
In terms of compensation, Sina said permanent workers and those on long-term contracts will have to be paid higher compensation.
International Resource News-January 26, 2018--Air Products receives new long-term contracts from Samsung Display
Despite the market being oversupplied, Chinese buyers have had a difficult time finding LNG because most supplies are locked up in long-term contracts, leaving less than a third of the total LNG supply available on the global spot market.
Generally, long-term contracts are subject to the interest computation under the lookback method under Sec.
Most construction businesses use two different tax-accounting methods: one specifically for their long-term contracts and one generally for everything else.
The deepening supply glut is also casting doubt on the fate of traditional long-term contracts as buyers who are now faced with ample supply options may see little value in committing to such volumes.
It signed long-term contracts with BP for 14 vessels in Azerbaijan, and a $350 million contract with TCO in Kazakhstan to construct, supply and operate 15 vessels for a minimum period of three years.
Bulgariaas Energy Minister <a href="http://www.novinite.com/articles/166692/Bulgaria+to+Renegotiate+Long-Term+Contracts+with+AES%2C+ContourGlobal+TPPs#sthash.z3t11kkm.dpuf">Temenuzhka Petkova announced earlier on Friday that the long-term contracts between NEK and the two thermal power plants AES Maritza East 1 and ContourGlobal Maritsa East 3 will be renegotiated and a Memorandum of Understanding has been signed.

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