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Take or Pay |
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Take or Pay An agreement between two parties where one agrees to either buy certain goods or services from the other on a certain date or to pay for them even if that party does not need them on that date. A take-or-pay agreement provides guaranteed revenue for the seller even if the buyer decides against actually purchasing the goods or services. It is common in transactions involving electric utilities. Want to thank TFD for its existence? Tell a friend about us, add a link to this page, add the site to iGoogle, or visit the webmaster's page for free fun content. |
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