CFR > Title 2 > Subtitle B > Chapter XXIV > Part 2424 > Subpart B – Covered Transactions
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| § 2424.220 | What contracts and subcontracts, in addition to those listed in 2 CFR 180.220, are covered transactions? |
Terms Used In CFR > Title 2 > Subtitle B > Chapter XXIV > Part 2424 > Subpart B - Covered Transactions
- Annuity: A periodic (usually annual) payment of a fixed sum of money for either the life of the recipient or for a fixed number of years. A series of payments under a contract from an insurance company, a trust company, or an individual. Annuity payments are made at regular intervals over a period of more than one full year.
- Contract: A legal written agreement that becomes binding when signed.
- Gift: A voluntary transfer or conveyance of property without consideration, or for less than full and adequate consideration based on fair market value.