Terms Used In CFR > Title 31 > Subtitle B > Chapter VIII > Part 802 > Subpart J - Foreign National Security Investment Review Regimes

• Contract: A legal written agreement that becomes binding when signed.
• Rescission: The cancellation of budget authority previously provided by Congress. The Impoundment Control Act of 1974 specifies that the President may propose to Congress that funds be rescinded. If both Houses have not approved a rescission proposal (by passing legislation) within 45 days of continuous session, any funds being withheld must be made available for obligation.