TAKE OR PAY AGREEMENT Definition

Bookmark and Share

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

DRAWINGS see PROPRIETORS DRAW.

EQUIVALENT UNIT OF PRODUCTION (EPU) is based on the idea that if 100 units are all 40% complete, then 40 whole units could have been completed.

Suggest a Term

Enter Search Term

Enter a term, then click the entry you would like to view.