--- title: Contract description: A contract locks in supply availability within a particular time frame, as well as pricing. --- [![Centra Foods | Simply Authentic](https://www.centrafoods.com/hs-fs/file-339185492-png/images/centra-logo.png?width=487&height=64&name=centra-logo.png "Centra Foods | Simply Authentic")](https://www.centrafoods.com) # Glossary of Bulk Oil Terms ## [Contract](https://www.centrafoods.com/glossary/contract) Posted by [Alexa Ketterling](https://www.centrafoods.com/glossary/author/alexa-ketterling) Aug 8, 2018 4:07:14 PM A reservation of product, for example bulk oils, for a period in the future.  A contract locks in supply availability within a particular time frame, as well as pricing (though sometimes, it locks in just one portion of the pricing, for example, only the board or only the basis).  Contracts include terms and conditions that spell out when the inventory is to be taken, and penalties for not following the planned delivery schedule or paying invoices. # [35 Lb. Container](https://www.centrafoods.com/glossary/bid/331687/35-Lb-Container) [3rd Party Audit](https://www.centrafoods.com/glossary/bid/331686/3rd-Party-Audit) [3rd Party Audit Report](https://www.centrafoods.com/glossary/3rd-party-audit-report) [6x1 Gallon Case](https://www.centrafoods.com/glossary/bid/331685/6x1-Gallon-Case)   A [Antioxidant](https://www.centrafoods.com/glossary/antioxidant) [Allergens](https://www.centrafoods.com/glossary/bid/331684/Allergens) [Audit](https://www.centrafoods.com/glossary/audit) B [Bag in a Box Tote](https://www.centrafoods.com/glossary/bid/331683/Bag-in-Box-Tote) [Best By Date](https://www.centrafoods.com/glossary/bid/331682/Best-By-Date) [Bill of Lading](https://www.centrafoods.com/glossary/bill-of-lading) [Blanket Contract](https://www.centrafoods.com/glossary/blanket-contract) [Blending](https://www.centrafoods.com/glossary/bid/331681/Blending) [Blends](https://www.centrafoods.com/glossary/bid/332375/Blends) [Board](https://www.centrafoods.com/glossary/board) [BOL](https://www.centrafoods.com/glossary/bid/331680/BOL) [Bracketed Pricing](https://www.centrafoods.com/glossary/bid/331679/Bracketed-Pricing) [Broker](https://www.centrafoods.com/glossary/broker) [Breakpoint](https://www.centrafoods.com/glossary/bid/331677/Breakpoint) [Bulk Oil](https://www.centrafoods.com/glossary/bulk-oil) [Bung](https://www.centrafoods.com/glossary/bid/331675/Bung) C [Caged Tote](https://www.centrafoods.com/glossary/bid/332374/Caged-Tote) [Canola Oil](https://www.centrafoods.com/glossary/canola-oil) [Cardboard Tote](https://www.centrafoods.com/glossary/cardboard-tote) [CBOT](https://www.centrafoods.com/glossary/cbot) [Centrifuge](https://www.centrafoods.com/glossary/bid/331673/Centrifuge) [Chemical Testing](https://www.centrafoods.com/glossary/bid/331672/Chemical-Testing) [Climate](https://www.centrafoods.com/glossary/bid/331671/Climate) [COA](https://www.centrafoods.com/glossary/bid/331668/COA) [Coconut Oil](https://www.centrafoods.com/glossary/coconut-oil) [Cold Press](https://www.centrafoods.com/glossary/bid/331669/Cold-Press) [Cold Pressed](https://www.centrafoods.com/glossary/cold-pressed) [Commodity](https://www.centrafoods.com/glossary/commodity) [Commodity Oils](https://www.centrafoods.com/glossary/commodity-oils) [Continuing Statement of Guarantee](https://www.centrafoods.com/glossary/continuing-statement-of-guarantee)  [Contract](https://www.centrafoods.com/glossary/contract) [COO](https://www.centrafoods.com/glossary/bid/331667/COO) [Co-Op](https://www.centrafoods.com/glossary/bid/332373/Co-op) [Copra](https://www.centrafoods.com/glossary/copra) [Corn Oil](https://www.centrafoods.com/glossary/corn-oil) [Cottonseed Oil](https://www.centrafoods.com/glossary/cottonseed-oil) [Country of Origin](https://www.centrafoods.com/glossary/bid/332370/Country-of-Origin) [Cultivar](https://www.centrafoods.com/glossary/cultivar) [Credit](https://www.centrafoods.com/glossary/bid/331666/Credit) [Credit Terms](https://www.centrafoods.com/glossary/credit-terms) D [Delivered Pricing](https://www.centrafoods.com/glossary/bid/331665/Delivered-Pricing) [Distributor](https://www.centrafoods.com/glossary/distributor) [Drum](https://www.centrafoods.com/glossary/bid/331662/Drum) [Drum Pump](https://www.centrafoods.com/glossary/drum-pump) E [Environmentally-Friendly Packaging](https://www.centrafoods.com/glossary/bid/331659/Environmentally-Friendly-Packaging) [Expeller Pressed](https://www.centrafoods.com/glossary/bid/331656/Expeller-Pressed) [Expiration Date](https://www.centrafoods.com/glossary/bid/332368/Expiration-Date) [Export](https://www.centrafoods.com/glossary/export) [Extra Lite Tasting Olive Oil](https://www.centrafoods.com/glossary/bid/332366/Extra-Lite-Tasting-Olive-Oil) [Extra Virgin Olive Oil](https://www.centrafoods.com/glossary/bid/331655/Extra-Virgin-Olive-Oil) F [F-Style Plastic Jugs](https://www.centrafoods.com/glossary/f-style-plastic-jugs) [Fat](https://www.centrafoods.com/glossary/fat) [FDA Food Facility Registration](https://www.centrafoods.com/glossary/fda-food-facility-registration) [Filtering](https://www.centrafoods.com/glossary/bid/331654/Filtering) [First Press](https://www.centrafoods.com/glossary/bid/331651/First-Press) [Flash Point](https://www.centrafoods.com/glossary/flash-point) [Flat-Pallet Shipping](https://www.centrafoods.com/glossary/bid/331650/Flat-Pallet-Shipping) [Flavor Profile](https://www.centrafoods.com/glossary/flavor-profile) [Flavored Olive Oil](https://www.centrafoods.com/glossary/bid/332363/Flavored-Olive-Oil) [Flexitank](https://www.centrafoods.com/glossary/bid/331649/Flexitank) [FOB](https://www.centrafoods.com/glossary/bid/331648/FOB) [Food Manufacturing](https://www.centrafoods.com/glossary/food-manufacturing) [Food Processing](https://www.centrafoods.com/glossary/food-processing) [Freight](https://www.centrafoods.com/glossary/bid/331646/Freight) [Food Safety](https://www.centrafoods.com/glossary/food-safety) [Food Service](https://www.centrafoods.com/glossary/food-service) [Free Fatty Acid](https://www.centrafoods.com/glossary/free-fatty-acid) [Fry Oil](https://www.centrafoods.com/glossary/fry-oil) [FTL Freight](https://www.centrafoods.com/glossary/ftl-freight) [Futures](https://www.centrafoods.com/glossary/futures) G [Generic Brand](https://www.centrafoods.com/glossary/bid/331642/Generic-Brand) [Genetic Engineering](https://www.centrafoods.com/glossary/genetic-engineering) [Genetic Modification](https://www.centrafoods.com/glossary/genetic-modification) [Gluten](https://www.centrafoods.com/glossary/bid/331641/Gluten) [Gluten Free](https://www.centrafoods.com/glossary/bid/332362/Gluten-Free) [GMO Free](https://www.centrafoods.com/glossary/gmo-free) [GMP](https://www.centrafoods.com/glossary/gmp) [Grades](https://www.centrafoods.com/glossary/grades) [GRAS List](https://www.centrafoods.com/glossary/gras-list) [Gross Weight](https://www.centrafoods.com/glossary/bid/331640/Gross-Weight) H [Hand Picked](https://www.centrafoods.com/glossary/bid/332344/Hand-Picked) [HACCP Plan](https://www.centrafoods.com/glossary/haccp-plan) [Halal Statement](https://www.centrafoods.com/glossary/halal-statement) [Harvesting](https://www.centrafoods.com/glossary/bid/331639/Harvesting) [Harvest Season](https://www.centrafoods.com/glossary/bid/331637/Harvest-Season) [Heat-Treated Pallet](https://www.centrafoods.com/glossary/heat-treated-pallet) [Hexane](https://www.centrafoods.com/glossary/bid/332289/Hexane) [High Oleic](https://www.centrafoods.com/glossary/high-oleic) [Hydrogenated Oils](https://www.centrafoods.com/glossary/hydrogenated-oils) I  [IBC Tote](https://www.centrafoods.com/glossary/ibc-tote)  [Import](https://www.centrafoods.com/glossary/import) [Infused Olive Oil](https://www.centrafoods.com/glossary/bid/331636/Infused-Olive-Oil) [Ingredient](https://www.centrafoods.com/glossary/ingredient) [IOC](https://www.centrafoods.com/glossary/bid/331635/IOC) [Irradiation Statement](https://www.centrafoods.com/glossary/irradiation-statement) K [Kosher](https://www.centrafoods.com/glossary/bid/331633/Kosher) [Kosher for Passover](https://www.centrafoods.com/glossary/bid/332290/Kosher-for-Passover) L [Letter of Guarantee](https://www.centrafoods.com/glossary/letter-of-guarantee) [Linoleic](https://www.centrafoods.com/glossary/linoleic) [Lipid](https://www.centrafoods.com/glossary/lipid) [Lite Olive Oil](https://www.centrafoods.com/glossary/bid/332294/Lite-Olive-Oil) [Lot Code](https://www.centrafoods.com/glossary/bid/331629/Lot-Code) [Lot Code Explanation](https://www.centrafoods.com/glossary/lot-code-explanation) [LTL Freight](https://www.centrafoods.com/glossary/ltl-freight) M [Manufacturer](https://www.centrafoods.com/glossary/manufacturer) [Manufacturing Co-Op](https://www.centrafoods.com/glossary/bid/331628/Manufacturing-Co-op) [Mechanically Picked](https://www.centrafoods.com/glossary/bid/332358/Mechanically-Picked) [Mid Oleic](https://www.centrafoods.com/glossary/mid-oleic) [MSDS](https://www.centrafoods.com/glossary/bid/331626/MSDS)  [Monounsaturated Fat](https://www.centrafoods.com/glossary/monounsaturated-fat) N [Natural Food Industry](https://www.centrafoods.com/glossary/natural-food-industry) [Net Terms](https://www.centrafoods.com/glossary/bid/331623/Net-Terms) [Net Weight](https://www.centrafoods.com/glossary/bid/331622/Net-Weight) [Non-GM](https://www.centrafoods.com/glossary/non-gm) [Non-GMO](https://www.centrafoods.com/glossary/bid/331621/Non-GMO) [Non-GMO Project Verified™](https://www.centrafoods.com/glossary/non-gmo-project-verified) [Nutrition Information Panel](https://www.centrafoods.com/glossary/nutrition-information-panel) [Nutritional Facts Label](https://www.centrafoods.com/glossary/nutritional-facts-label) O [Oil](https://www.centrafoods.com/glossary/bid/331619/Oil) [Oleic Acid](https://www.centrafoods.com/glossary/oleic-acid) [Oleocanthal](https://www.centrafoods.com/glossary/oleocanthal) [Olive](https://www.centrafoods.com/glossary/bid/331618/Olive) [Olive Cake](https://www.centrafoods.com/glossary/bid/332342/Olive-Cake) [Olive Oil](https://www.centrafoods.com/glossary/bid/331617/Olive-Oil) [Olive Oil Blends](https://www.centrafoods.com/glossary/bid/331615/Olive-Oil-Blends) [Olive Oil Color](https://www.centrafoods.com/glossary/olive-oil-color) [Olive Pomace](https://www.centrafoods.com/glossary/bid/332318/Olive-Pomace) [Olive Pomace Oil](https://www.centrafoods.com/glossary/bid/332329/Olive-Pomace-Oil) [Organic](https://www.centrafoods.com/glossary/bid/331612/Organic) [Origin](https://www.centrafoods.com/glossary/bid/331613/Origin) [Oxidation](https://www.centrafoods.com/glossary/bid/331610/Oxidation) P [Pallet](https://www.centrafoods.com/glossary/bid/331597/Pallet) [Partially-Hydrogenated Oils](https://www.centrafoods.com/glossary/partially-hydrogenated-oils) [PDO](https://www.centrafoods.com/glossary/pdo) [Plastic Tote](https://www.centrafoods.com/glossary/bid/331595/Plastic-Tote) [PO](https://www.centrafoods.com/glossary/bid/332333/PO) [Pomace](https://www.centrafoods.com/glossary/bid/332305/Pomace) [Polyunsaturated Fat](https://www.centrafoods.com/glossary/polyunsaturated-fat) [Polyphenols](https://www.centrafoods.com/glossary/polyphenols) [Pressing](https://www.centrafoods.com/glossary/bid/331593/Pressing) [Private Label Brand](https://www.centrafoods.com/glossary/bid/331590/Private-Label-Brand)  [Procurement](https://www.centrafoods.com/glossary/procurement)  [Producing Countries](https://www.centrafoods.com/glossary/bid/331589/Producing-Countries) [Protected Designation of Origin](https://www.centrafoods.com/glossary/protected-designation-of-origin) [Purchase Order](https://www.centrafoods.com/glossary/bid/331588/Purchase-Order) [Purchasing](https://www.centrafoods.com/glossary/purchasing) [Pure Olive Oil](https://www.centrafoods.com/glossary/bid/331587/Pure-Olive-Oil) R [R&D](https://www.centrafoods.com/glossary/r-&-d) [Railcar](https://www.centrafoods.com/glossary/railcar) [RBD](https://www.centrafoods.com/glossary/rbd) [Refined Olive Oil](https://www.centrafoods.com/glossary/bid/331586/Refined-Olive-Oil) [Recall](https://www.centrafoods.com/glossary/recall) [Refined](https://www.centrafoods.com/glossary/refined) [Refinery](https://www.centrafoods.com/glossary/refinery) [Research and Development](https://www.centrafoods.com/glossary/research-and-development) [Returnable Tote Program](https://www.centrafoods.com/glossary/bid/331585/Returnable-Tote-Program) [Rice Bran Oil](https://www.centrafoods.com/glossary/rice-bran-oil) S [Safflower Oil](https://www.centrafoods.com/glossary/safflower-oil) [Salad Oil](https://www.centrafoods.com/glossary/salad-oil) [Saturated Fat](https://www.centrafoods.com/glossary/saturated-fat) [SDS](https://www.centrafoods.com/glossary/sds) [Sediment](https://www.centrafoods.com/glossary/bid/332283/Sediment) [Sewage Sludge Statement](https://www.centrafoods.com/glossary/sewage-sludge-statement) [Shelf Life](https://www.centrafoods.com/glossary/bid/331583/Shelf-Life) [Smoke Point](https://www.centrafoods.com/glossary/bid/331581/Smoke-Point) [Solidifying Point](https://www.centrafoods.com/glossary/bid/331579/Solidifying-Point) [Solvent](https://www.centrafoods.com/glossary/bid/332338/Solvent) [Solvent Extraction](https://www.centrafoods.com/glossary/bid/331577/Solvent-Extraction) [Soybean Oil](https://www.centrafoods.com/glossary/soybean-oil) [Spec Sheet](https://www.centrafoods.com/glossary/bid/331576/Spec-Sheet) [Specialty Food Industry](https://www.centrafoods.com/glossary/specialty-food-industry) [Spigot](https://www.centrafoods.com/glossary/bid/331575/Spigot) [Stain Removal (Of Olive 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Attachment](https://www.centrafoods.com/glossary/tote-dispenser-attachment) [Trans Fat](https://www.centrafoods.com/glossary/trans-fat) [Trans Fatty Acid](https://www.centrafoods.com/glossary/trans-fatty-acid)  [Tree Production](https://www.centrafoods.com/glossary/bid/330994/Tree-Production) U [Unfiltered](https://www.centrafoods.com/glossary/bid/330991/Unfiltered) [USDA Organic](https://www.centrafoods.com/glossary/bid/332272/USDA-Organic) V [Valve](https://www.centrafoods.com/glossary/valve) [Varietal](https://www.centrafoods.com/glossary/bid/330990/Varietal) [Vegetable Oil](https://www.centrafoods.com/glossary/vegetable-oil) [Vendor](https://www.centrafoods.com/glossary/vendor) [Virgin Oil](https://www.centrafoods.com/glossary/virgin-oil) [Virgin Olive Oil](https://www.centrafoods.com/glossary/virgin-olive-oil) [Volume Discounts](https://www.centrafoods.com/glossary/bid/332264/Volume-Discounts) ### About [Buy Bulk Oil Online](http://centrafoods.com/store) [Request 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