Set Aside Contract Law and Legal Definition
A "set- aside" is a Federal contract designated for small business bidding only. It is the portion of a contract that is guaranteed to go to a minority owned company. For example, if a city wishes to contract out its trash collection services to a number of privately-owned companies, it may declare that 20% of the total value of the contract must go to one or more companies owned by a member of a minority group.
