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Purchasing is the procurement process a business or organization uses to acquire goods or services to accomplish its goals. Although there are several organizations that attempt to set standards in the purchasing process, processes can vary greatly between organizations.
No purchase, no pay. Privateer captain Woodes Rogers who is said to have employed pirates on a "no purchase, no pay" basis. "No purchase, no pay" (or "no prey, no pay") was a phrase used by pirates and privateers, of the 17th century in particular, to describe the conditions under which participants were expected to join expeditions or raids.
An entity which provides insurance is known as an insurer, insurance company, insurance carrier, or underwriter. A person or entity who buys insurance is known as a policyholder, while a person or entity covered under the policy is called an insured. The insurance transaction involves the policyholder assuming a guaranteed, known, and relatively small loss in the form of a payment to the ...
FOB ( free on board) is a term in international commercial law specifying at what point respective obligations, costs, and risk involved in the delivery of goods shift from the seller to the buyer under the Incoterms standard published by the International Chamber of Commerce. FOB is only used in non-containerized sea freight or inland waterway ...
The purchase funnel, or purchasing funnel, is a consumer -focused marketing model that illustrates the theoretical customer journey toward the purchase of a good or service. Awareness – When a prospective customer becomes aware that a seller offers a product, solution, or service that will meet their needs, they are in the awareness stage.
The smoking age is the minimum legal age required to purchase or use tobacco or cannabis products. Most countries have laws that forbid sale of tobacco products to persons younger than certain ages, usually the age of majority .