zero dollar contract

Definition

A contract which does not contain any monetary remuneration between the parties for services or property. This type of contract is frequently used by business or government entities that hire a vendor to accept payments on their behalf. The vendor does not receive any money from the business or agency with which it has the contract, but is allowed to assess a service charge against anyone using the payment service. Government entities will also sign zero dollar contracts for facility use at no charge.

单词	zero dollar contract
释义	zero dollar contract Definition A contract which does not contain any monetary remuneration between the parties for services or property. This type of contract is frequently used by business or government entities that hire a vendor to accept payments on their behalf. The vendor does not receive any money from the business or agency with which it has the contract, but is allowed to assess a service charge against anyone using the payment service. Government entities will also sign zero dollar contracts for facility use at no charge.
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