§ 247.1 Purpose and scope
§ 247.2 Applicability
§ 247.3 Definitions
§ 247.4 Contracting officer requirements
§ 247.5 Specifications
§ 247.6 Affirmative procurement programs
§ 247.7 Effective date

Terms Used In CFR > Title 40 > Chapter I > Subchapter I > Part 247 > Subpart A - General

  • Amendment: A proposal to alter the text of a pending bill or other measure by striking out some of it, by inserting new language, or both. Before an amendment becomes part of the measure, thelegislature must agree to it.
  • Contract: A legal written agreement that becomes binding when signed.
  • Corporation: A legal entity owned by the holders of shares of stock that have been issued, and that can own, receive, and transfer property, and carry on business in its own name.
  • Fiscal year: The fiscal year is the accounting period for the government. For the federal government, this begins on October 1 and ends on September 30. The fiscal year is designated by the calendar year in which it ends; for example, fiscal year 2006 begins on October 1, 2005 and ends on September 30, 2006.
  • Partnership: A voluntary contract between two or more persons to pool some or all of their assets into a business, with the agreement that there will be a proportional sharing of profits and losses.
  • Personal property: All property that is not real property.