Home > Terms > English, UK (UE) > No cost contract

No cost contract

That has no monetary consideration but pays back 'in kind.' Used mainly to avoid duplication of effort, it may be entered between a government (which has developed a new but classified technology) and a firm (which is engaged in exploiting such technologies). The government passes on the requested information on the condition the firm discloses to it all future developments and refinements concerning the technology.

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  • Part of Speech: noun
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  • Industry/Domain: Law
  • Category: Contracts
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