requirements contract

A contract in which a buyer promises to buy and a seller to supply all the goods or services that a buyer needs during a specified period.

• The quantity term is measured by the buyer’s requirements. A requirements contract assures the buyer of a source for the period of the contract. Cf. output contract. [Cases: Sales 71(4). C.J.S. Sales §§ 178–180.]

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词条贡献者

双语律师郭敏，国际知名商学院金融专业，擅长翻译各类与金融衍生品与结构化产品相关的法律文件。