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WordNet-Online
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Definitions from the WebTerm: oftakeNoun (singular):A legally binding agreement between a supplier and a customer for the purchase of a specific amount of a product or service. Example sentence: "The company signed an offtake with a local bakery to supply them with flour for their baked goods." Noun (plural):The total amount of a product or service that is agreed to be purchased by customers or consumers. Example sentence: "The manufacturing plant has been struggling to meet the increasing demand for their products, resulting in a higher offtake." Verb:The act of agreeing to purchase or acquire a specific amount of a product or service. Example sentence: "After a series of negotiations, the company decided to offtake the entire production of the new smartphone model." Related products: Supplier AgreementPurchase Agreement Product Supply | ||||
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