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Glossary   >   T   >   "Take-or-pay contract" Definition            Take-or-pay contract A contract that obligates the purchaser to take any product that is offered (and pay the cash purchase price) or pay a specified amount if he/she refuses to take the product. Glossary    Dictionary Search (powered by Google) WWW ITLOCUS.COM GLOSSARY.ITLOCUS.COM Translate a web page (powered by Google)      to German Spanish French Italian Portuguese Japanese Korean Chinese

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Take-or-pay contract \ A contract that obligates the purchaser to take any product that is offered (and pay the cash purchase price) or pay a specified amount if he/she refuses to take the product.