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Glossary > T > "Take or Pay" Definition

Take or Pay

A provision, written into a contract, whereby one party has the obligation of either taking delivery of goods or paying a specified amount.

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Take or Pay \ A provision, written into a contract, whereby one party has the obligation of either taking delivery of goods or paying a specified amount.

Take or Pay / a provision, written into a contract, whereby one party has the obligation of either taking delivery of goods or paying a specified amount.