principal
Defined in 2 places across 2 titles of the United States Code.
The term "principal" has the meaning given that term in section 877 of this title (article 77 of the Uniform Code of Military Justice).
Source
- 2021–present10 U.S.C. § 486Armed Forces · Quadrennial report on emerging operational concepts · in this section
The term “principal” means (A) in the case of a bid bond, a person bidding for the award of a contract, or (B) the person primarily liable to complete a contract for the obligee, or to make payments to other persons in respect of such contract, and for whose performance of his obligation the surety is bound under the terms of a payment or performance bond. A principal may be a prime contractor or a subcontractor.
Source
- 1994–present15 U.S.C. § 694ACommerce and Trade · Definitions · as used in this part