English
English version

take-or-pay

From Longman Business Dictionarytake-or-payˌtake-or-ˈpay adjective [only before a noun]COMMERCE a take-or-pay agreement is one in which a customer agrees to buy a particular quantity of goods at a particular price over a particular period of time. If the customer does not buy the goods as agreed, they must still pay the sellerUnder take-or-pay contracts, utilities agree to pay for amounts of gas regardless of their ability to accept delivery.
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