Definition: Contract processing
PRODCOM
Contract processing is included in PRODCOM. It takes place when an enterprise, the principal, supplies (raw)material free of charge to a contractor and asks the contractor to process the (raw)material and to return the processed product to the principal. The principal will pay the contractor a fee. Contract processing shall be recorded by the contractor and the value shall be the fee paid by the principal.
Source:
Eurostat
Created:
Updated: