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The Benefits of Long-Term Relationships with a Small Number of Suppliers

question 80

Multiple Choice

The benefits of long-term relationships with a small number of suppliers include all of the following except


Definitions:

Creditor Beneficiary

A third party that benefits from a contract, particularly one made between two other parties to pay a debt owed to the beneficiary.

Second-Party Beneficiary

An individual or entity that is not directly involved in a contract but stands to benefit from its execution, typically in contracts intended to benefit a third party.

Vesting

The process by which an individual acquires the right to a present or future payment, benefit, or asset, becoming fully guaranteed even if the individual's status changes.

Personal Service

Personal service is a type of service delivered by an individual to meet personal needs or requirements of customers, often characterized by direct interaction.

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