QUOTATION Definition

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QUOTATION, dependent upon usage, is a. a statement of the current market price of a security or commodity; or, b. an offer to sell goods at a stated price and under specified conditions.

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BILLBACK, in e-commerce and credit card transactions, is a means of recovering or reducing interchange fees for transactions clearing differently than planned. The processing company (FDC) passes through the charges to the merchant.

SUPPLANT is to take the place of or move into the position of, e.g. the computer supplanted the slide rule.

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