Home > Terms > English, UK (UE) > Take-or-pay
Take-or-pay
A clause in a gas supply contract which provides that a minimum quantity of gas be paid for, whether or not delivery is accepted by the purchaser. Most contracts contain a time period in which the buyer may take later delivery of gas without penalty. Not generally included in contracts written today. Some buyers will pay the seller a fee (often large) to buy out the contract (usually an old contract), so they are not required to take the gas. Often abbreviated to TOP by companies, but should be written in full.
This is auto-generated content. You can help to improve it.
0
0
Improve it
- Part of Speech: noun
- Synonym(s):
- Blossary:
- Industry/Domain: Energy
- Category: Energy trade
- Company: Platts
- Product:
- Acronym-Abbreviation:
Other Languages:
Member comments
Terms in the News
Featured Terms
Industry/Domain: Cinema Category: Film types
Spaghetti western
It is the nickname for a broad sub-genre of Western films that emerged in the mid-1960s in Italy. The most popular directors are Sergio Leone, Sergio ...
Contributor
Featured blossaries
anathemona
0
Terms
2
Blossaries
0
Followers
Things to do in Bucharest (Romania)
Category: Travel 2 10 Terms
Marouane937
0
Terms
58
Blossaries
3
Followers
10 Of The Most Expensive Hotel Room In The World
Category: Entertainment 1 10 Terms
Browers Terms By Category
- ISO standards(4935)
- Six Sigma(581)
- Capability maturity model integration(216)
Quality management(5732) Terms
- Hand tools(59)
- Garden tools(45)
- General tools(10)
- Construction tools(2)
- Paint brush(1)
Tools(117) Terms
- General furniture(461)
- Oriental rugs(322)
- Bedding(69)
- Curtains(52)
- Carpets(40)
- Chinese antique furniture(36)
Home furnishings(1084) Terms
- Natural gas(4949)
- Coal(2541)
- Petrol(2335)
- Energy efficiency(1411)
- Nuclear energy(565)
- Energy trade(526)
Energy(14403) Terms
- Chocolate(453)
- Hard candy(22)
- Gum(14)
- Gummies(9)
- Lollies(8)
- Caramels(6)