NOT LESS THAN (NLT)
\nˈɒt lˈɛs ðɐn ˌɛnˌɛltˈiː], \nˈɒt lˈɛs ðɐn ˌɛnˌɛltˈiː], \n_ˈɒ_t l_ˈɛ_s ð_ɐ_n__ ˌɛ_n_ˌɛ_l_t_ˈiː]\
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When negotiating a contract, it is the assurance from the vendor that the value of the property will not be less than the proposed value and the estimates that will be submitted later. Depending on the changes made to the property, the NLT value may be higher or lower.
By Henry Campbell Black
Word of the day
Snake's-head
- Guinea-hen flower; -- so called in England because its spotted petals resemble the scales of a snake's head.