- An agreement in which a producer agrees to sell to a buyer all of a particular kind of product that the buyer needs, before the producer looks for other buyers, and the buyer agrees to buy the goods only from the producer. This kind of contract differs from an output contract, in which the buyer agrees to buy everything the supplier produces.
Business law dictionary. 2015.
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requirements contract — see contract Merriam Webster’s Dictionary of Law. Merriam Webster. 1996. requirements contract … Law dictionary
Requirements contract — A requirements contract is a contract in which one party agrees to supply as much of a good or service as is required by the other party, and in exchange the other party expressly or implicitly promises that it will obtain its goods or services… … Wikipedia
requirements contract — A contract in which one party agrees to purchase his total requirements from the other party and hence it is binding and not illusory. See also output contract … Black's law dictionary
requirements contract — noun a contract in which you agree to purchase all your requirements of a particular sort from one party • Hypernyms: ↑contract … Useful english dictionary
requirements contract — noun An agreement in which in which one party agrees to supply as much of a good or service as is required by the other party, and in exchange the other party expressly or implicitly promises that it will obtain its goods or services exclusively… … Wiktionary
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