Buy-Back contract Law and Legal Definition

According to 7 CFR 20.4 (b) [Title 7—Agriculture; Subtitle A -- Office of the Secretary of Agriculture; Part 20 -- Export Sales Reporting Requirements], the term buy-back contract means “a transaction under which a reporting exporter having sold a commodity for export to a foreign buyer liquidates the export sale contract by making an offsetting purchase of the same kind of commodity from the same foreign buyer.”