state contract
[/steɪt ˈkɑːntrækt/]
nounpl: state contracts
contrato estatal
1. A legally binding agreement entered into by a state government with a private individual, company, or organization for the provision of goods, services, or construction work
The construction company won the state contract to build the new highway.
A empresa de construção venceu o contrato estatal para construir a nova rodovia.
2. A procurement agreement where a state is one of the parties, typically subject to public bidding and regulatory oversight
State contracts must comply with competitive bidding requirements and transparency regulations.
Os contratos estatais devem cumprir requisitos de licitação competitiva e regulamentações de transparência.
State contracts are significant in both the USA and Brazil, representing major opportunities for businesses and requiring compliance with public procurement laws. In Brazil, state contracts (contratos estatais) are governed by Law 8,666/93 and must follow strict bidding procedures (licitação). In the USA, state contracts vary by state but typically require competitive bidding and are subject to state and federal regulations. These contracts are important economic indicators and are often scrutinized for transparency and ethical compliance.
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