customer

  

Definitions (2)

1. General: (1) Entity that receives or consumes products (goods or services) and has the ability to choose between different products and suppliers. See also buyer. (2) Entity directly served by an organization.

2. Quality control: Entity within a firm who establishes the requirement of a process (accounting, for example) and receives the output of that process (a financial statement, for example) from one or more internal or external suppliers.



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The Most Favored Customer Clause

One useful but fairly uncommon type of contract stipulation is a most-favored-customer clause. Under such an arrangement, no one gets a better price than this customer, or if someone else does then th ... Read more

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