CONTRACT ALLOWANCE Definition

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CONTRACT ALLOWANCE is the limit set within an agreement as to what is the maximum allowed of any given item covered under contract, e.g., home construction with a builder may have allowances or "limits" set in your contract that tell you how much the price of your house "allows" for things such as floor coverings, countertops, and cabinets.

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WORTH is an indefinite quantity of something having a specified value.

DISCOUNT HOUSE is a company that specializes in discounting bills of exchange, Treasury bills and short-dated government bonds.

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