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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ECONOMIC ORDER QUANTITY is the order quantity that minimizes total inventory costs. A total inventory cost is the sum of ordering, carrying and stock-out costs.

NO-LOAD FUND is a mutual fund sold directly to investors without commissions paid to salesmen or other up-front costs. Some funds charge surrender fees, although a pure no-load fund has no sales, exit or marketing fees.

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