#shorts #takeorpay #contractualclause #wallstreetmojo
What is take or pay?| MUST WATCH | WALLSTREETMOJO
The take or pay clause basically stipulates a buyer takes the goods from the seller in exchange for the pre-determined amount. They must pay a fine if they refuse to take the goods.
So what this contractual clause does is that it protects sellers in case the buyer refuses to honor the terms of the contract.
To know more about it, check out our Youtube video.
https://www.youtube.com/watch?v=se4du84LgpY
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