dual contract

dual contract

The illegal and unethical practice of providing two different sets of contracts for the same transaction—usually one at an inflated price so that 80 or 90 percent financing will, in actuality,pay 100 percent of the true purchase price.This practice constitutes fraud.

References in periodicals archive ?
So-called "yin and yang" dual contract arrangements --with one contract for income declared to tax authorities while the other is kept secret--are reported to be used in China to evade taxes.
It was announced earlier this term that North (inset) would return to Wales from iership ampmer English Premiership club Northampton this summer on a national dual contract.
M2 EQUITYBITES-March 14, 2017-NV5 wins USD11m dual contract for energy services in Southern California
The Wales skipper, who should be over a neck injury in time to face Argentina on November 12, agreed a new National Dual Contract.
One star man who won't be signing a dual contract just yet is Halfpenny, who has opted to stay with three-times European champions Toulon rather than return to one of the Welsh regions.
ALUN-WYN Jones has pledged his rugby future to the Ospreys and Wales by re-signing his national dual contract.
Wales centre Jonathan Davies is returning home to |play for Scarlets on a national dual contract.
The giant Test winger will be offered a dual contract to play Rugby Union with sister club Leeds Tykes in winter before joining the Rhinos in Super League for the 2002 season.
In 1995, Roberts joined ABCs Wide World of Sports, nailing a six-year, $3.9 million dual contract with ESPN and ABC.
Anscombe's National Dual Contract with the WRU and the Blues expires in June.
"It was a really positive decision for me to sign a national dual contract with the support and structure it provides.
North's contract at Northampton expires at the end of this season, and he will join one of the four Welsh regional teams in the summer on a national dual contract, with the Ospreys reportedly front-runners for his signature.