tally trade
Definition
Noun: - A system of credit sale with installment payments: "tally trade" refers to a method of selling goods on credit, where the buyer pays for the items in regular installments, and the seller keeps a record (or "tally") of the transactions.
Usage Examples
- (A credit system with gradual repayment.)
- (A method of selling on credit with installment payments.)
Advanced Usage
"to engage in tally trade": to participate in a credit-based selling system.
- Many small businesses in rural areas still engage in tally trade to help customers with limited cash flow. (They sell goods on credit with installment plans.)
"tally trade agreement": a formal or informal contract for such a credit arrangement.
- The carpenter and the supplier signed a tally trade agreement for the lumber, with payments due every two weeks. (A contract for installment credit sales.)
Variants and Related Words
Tally (n): a record or count of items, often used in accounting or tracking.
- The shopkeeper kept a tally of all the goods sold on credit. (A written record of transactions.)
Tradesman (n): a person who sells goods, especially in a shop.
- The tradesman preferred tally trade to attract more customers. (A seller who uses credit sales.)
Synonyms
- Credit sale: a sale where payment is deferred.
- Installment plan: a system of paying for goods in regular, fixed amounts.
- Hire purchase (chiefly British): a method of buying goods by paying in installments while using them.
Related Idioms
On tick: an informal phrase meaning to buy on credit.
- He bought the tools on tick, promising to pay the tally trade debt next month. (He purchased on credit.)
Buy now, pay later: a modern equivalent of tally trade.
- The tally trade system is an early form of "buy now, pay later." (Deferred payment.)