CONTRACTOR Definition

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CONTRACTOR is the person or entity who will provide the goods or services under the provisions of the contract.

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RESIDUAL CLAIM is a claim to a share of earnings after debt obligations have been satisfied.

BALANCE OF PAYMENTS / BALANCE OF TRADE is the difference between a countrys total export dollar value and its total import dollar value, generally or with respect to a particular trading partner. A positive balance means a net inflow of capital, while a negative means capital flows out of the country.

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