open contract
/ˈoʊpən kənˈtrækt/ · oʊ.pən.kənˈtrækt
noun
- A financial agreement that is not yet fully executed or settled. The open contract on the futures market was causing significant volatility in the stock prices.
- A contract that is open to negotiation or revision. The company is currently reviewing the open contract with their supplier to ensure fair pricing.
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Antonyms
Did you know? The term 'open contract' is commonly used in the financial industry to describe a type of agreement that is not yet fully executed or settled, but it can also be used in other contexts to describe a contract that is open to negotiation or revision.