No cost contract

No cost contract,

Definition of No cost contract:

  1. That has no monetary consideration but pays back in kind. Used mainly to avoid duplication of effort, it may be entered between a government (which has developed a new but classified technology) and a firm (which is engaged in exploiting such technologies). The government passes on the requested information on the condition the firm discloses to it all future developments and refinements concerning the technology.

Meaning of No cost contract & No cost contract Definition