take or pay agreement

Definition

A contract between two individual parties that requires payment for services although the services are not rendered at a certain time. An example of a take or pay agreement is a contract with an electric company.

Related Videos




http://www.businessdictionary.com/definition/take-or-pay-agreement.html

Today's Top Bulls

72% Bullish
(36 Votes)
70% Bullish
(103 Votes)
69% Bullish
(75 Votes)
Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z