guarantor of a note
if the primary borrower fails to pay as agreed and (2) the liability that would
be incurred if a pending lawsuit is resolved in the other party's favor.
CONTRACT A mutually binding legal relationship obligating
the seller to furnish supplies or services (including construction) and the
buyer to pay for them.
CONTRACT ASSISTANCE FOR WOMEN BUSINESS OWNERS CAWBO The Office of Federal
Contract Assistance for Women Business Owners (CAWBO) was established October
1, 2000, in the Office of Government Contracting at the U.S. Small Business Administration.
The purpose of the office is to increase federal contracting opportunities for
women-owned small business (WOSB) and to increase the number of WOSBs that successfully
compete in the federal marketplace.
CONTRACTING Purchasing, renting, leasing, or otherwise
obtaining supplies or services from nonfederal sources. Contracting includes
the description of supplies and services required, the selection and
solicitation of sources, the preparation and award of contracts, and all phases
of contract administration. It does not include grants or cooperative agreements.
CONTRACTING OFFICER A person with the authority to enter
into, administer, and/or terminate contracts and make related determinations
and findings.
CONTRACTOR TEAM ARRANGEMENT An arrangement in
which (a) two or more companies form a partnership or joint venture to act as
potential prime contractor; or (b) an agreement by a potential prime contractor
with one or more other companies to have them act as its subcontractors under a
specified government contract or acquisition program.
COPYRIGHT The legal right granted to authors,
composers, artists and publishers to protect their thoughts and ideas for
exclusive publication, reproduction, sale and distribution of their works. Some
of the material on SBA's web site is copyrighted and it will be so stated in
the document. If it is not copyrighted we prefer that you link to our information
rather than taking it and posting it on your site. Our information changes hourly
and daily.
CORPORATION A group of persons granted a state charter
legally recognizing them as a separate entity having its own rights,
privileges, and liabilities distinct from those of its members. The process of
incorporating should be completed with the state's secretary of state or state
corporate counsel and usually requires the services of an attorney.
COSTS Money obligated for goods and services
received during a given period of time, regardless of when ordered or whether paid
for.
COVENANT A prescription for action in a loan document.
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