Terms Used In South Carolina Code > Title 32 > Chapter 13 - Contract for Reimbursement of Federal Manufacturer's Excise Tax

• Contract: A legal written agreement that becomes binding when signed.
• Indictment: The formal charge issued by a grand jury stating that there is enough evidence that the defendant committed the crime to justify having a trial; it is used primarily for felonies.
• Obligation: An order placed, contract awarded, service received, or similar transaction during a given period that will require payments during the same or a future period.