take or pay

Speech parts

1. take or pay - Noun

2. take or pay - Adjective

Meaning

(business) A take-or-pay contract; a take-or-pay provision in a contract.

(business) A contractual obligation either to take delivery of contracted goods or services or to make a specified payment.

take-or-pay (not comparable)

(business) Of a contractual obligation either to take delivery of contracted goods or services or to make a specified payment.

Alternative names

take-or-pay

Close letter words and terms