TAKE OR PAY AGREEMENT Definition

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TAKE OR PAY AGREEMENT is where a buyer must pay for the contracted amount of the contracted item(s) delivered whether or not he/she can take delivery.

Learn new Accounting Terms

GENERAL EXPENSE is expense not directly connected with any single department.

INVESTMENT TAX CREDIT is a tax credit in the United States that allows businesses to write-off a portion of the cost of purchasing equipment for business use.

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