Federally Assisted Construction Contract Law and Legal Definition

According to 41 CFR 60-1.3 [Title 41 : Public Contracts And Property Management Subtitle B ; Other Provisions Relating To Public Contracts Chapter 60 ; Office Of Federal Contract Compliance Programs, Equal Employment Opportunity, Department Of Labor Part 60-1 ; Obligations Of Contractors And Subcontractors Subpart A ; Preliminary Matters; Equal Opportunity Clause; Compliance Reports ] Federally assisted construction contract means “any agreement or modification thereof between any applicant and a person for construction work which is paid for in whole or in part with funds obtained from the Government or borrowed on the credit of the Government pursuant to any Federal program involving a grant, contract, loan, insurance, or guarantee, or undertaken pursuant to any Federal program involving such grant, contract, loan, insurance, or guarantee, or any application or modification thereof approved by the Government for a grant, contract, loan, insurance, or guarantee under which the applicant itself participates in the construction work.”