Home > Term: take-or-pay
take-or-pay
The clause in a gas supply contract which provides for a specific period a specific minimum quantity of gas must be paid for whether or not delivery is accepted by the purchaser. Some contracts contain a time period in which the buyer may take later delivery of the gas without penalty.
- Part of Speech: noun
- Industry/Domain: Energy
- Category: Natural gas
- Company: AGA
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Creator
- JJD
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