Outrageously Funny Word Dictionary :: Cotise

👉 Cotise is a legal term in the United States that refers to the process of contracting out work, typically between two parties. The contract establishes the terms and conditions under which the services will be performed by one party for the benefit of another. The act of contracting out means that the contractor agrees to perform the work at their own expense and without direct involvement from the client. In essence, cotise is a legal practice where an individual or business acquires the right to contract with another entity to

cotise

👉 "Cotised" is a phrase used in accounting and finance to describe a situation where an individual or business has paid a certain amount of money upfront for a product, service, or asset. This upfront payment is typically considered part of the consideration received from the buyer, which can be either cash or another form of payment. In the context of accounting, "cotised" refers to an arrangement in which a company is required to pay a fixed amount of money upfront for a specific asset or service,

cotised