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  2. Take-or-pay contract - Wikipedia

    en.wikipedia.org/wiki/Take-or-pay_contract

    Take-or-pay contract. A take-or-pay contract, or a take-or-pay clause within a contract, is a payment obligation agreed between companies and their suppliers or customers. With this kind of contract, the company/customer either takes the product from the supplier or pays the supplier a penalty. For any product the company takes, it agrees to ...

  3. Banker's acceptance - Wikipedia

    en.wikipedia.org/wiki/Banker's_acceptance

    A banker's acceptance is an instrument that represents a bank's commitment to make a requested future payment. The request will typically specify the payee, the amount, and the date on which it is eligible for payment. After acceptance, the request becomes an unconditional liability of the bank. Banker's acceptances are distinguished from ...

  4. Debt settlement - Wikipedia

    en.wikipedia.org/wiki/Debt_settlement

    A portion of each payment is taken as fees for the debt settlement company, and the rest is put into the trust account. The consumer is told not to pay anything to the creditors. The debt settlement company's fees are usually specified in the enrollment contract, and may range from 10% to 75% of the total amount of debt to be settled. [ 13 ]

  5. How to pay off a debt in collections

    www.aol.com/finance/pay-off-debt-collections...

    You might also be interested in how to set up a debt payoff plan and stick to it. 8. Make your payment (s) as agreed. Once you’ve agreed on a payment plan with the debt collector, make sure you ...

  6. Fixed-price contract - Wikipedia

    en.wikipedia.org/wiki/Fixed-price_contract

    Fixed-price contract. A fixed-price contract is a type of contract for the supply of goods or services, such that the agreed payment amount will not subsequently be adjusted to reflect the resources used, costs incurred or time expended by the contractor. This contract type may be contrasted with a cost-plus contract, which is intended to cover ...

  7. What happens when you pay off your mortgage? - AOL

    www.aol.com/finance/happens-pay-off-mortgage...

    When you pay off your mortgage, your lender will provide you with paperwork to show you have paid off your home loan in full. You must collect all the necessary paperwork, and in some cases ...