Proof of purchase financial definition of proof of purchase
proof of purchase
Also found in: Acronyms
proof of purchase a receipt which is given by the seller of a product to a buyer at the time of purchase, which the buyer can then use to claim a refund, product exchange or repair under GUARANTEE conditions (see SALE OF GOODS ACT 1979). In the case of special offers and promotions, detachable vouchers or labels incorporated in the product packaging may be used as proof of purchase and entitlement to the offer or promotion (see SALES PROMOTION).