CFR > Title 43 > Subtitle B > Chapter I > Part 414 > Subpart A – Purposes and Definitions
Current as of: 2024 | Check for updates
|
Other versions
| § 414.1 | Purpose |
| § 414.2 | Definitions of terms used in this part |
Terms Used In CFR > Title 43 > Subtitle B > Chapter I > Part 414 > Subpart A - Purposes and Definitions
- Contract: A legal written agreement that becomes binding when signed.
- Entitlement: A Federal program or provision of law that requires payments to any person or unit of government that meets the eligibility criteria established by law. Entitlements constitute a binding obligation on the part of the Federal Government, and eligible recipients have legal recourse if the obligation is not fulfilled. Social Security and veterans' compensation and pensions are examples of entitlement programs.
- Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.