UP-FRONT PAYMENT Definition

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UP-FRONT PAYMENT is anything of value, usually money, delivered at the time a contract is signed, e.g. down payment, licensing fees, or closing costs.

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SALES ALLOWANCE is an offer of a lower price as an inducement to the buyer to accept delivery under special circumstances, e.g. when the merchandise delivered is not exactly what was ordered.

WHOLLY OWNED SUBSIDIARY is an entity whose parent owns virtually 100% of its common stock.

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