Pay or Play Contract

[ˈpeɪ ɔː pleɪ kənˈtrækt]

A pay or play contract is a contract agreement in which one party goes into an agreement to perform and the second party to pay for the promised performance; this is a common practice in the entertainment industry; it is however becoming a popular way of achieving goals for certain organizations. 

Many global organizations today, select a specialist to carry out a certain task and pay the individual based on the task, examples of such vary depending on the task that needs to be completed; an example could be a launching of a new product. 

The organization might need to find a branding specialist who will build a social media awareness and countdown towards the new product which is to be launched; the organization might also need a good graphic designer to come up with eye catching graphics; all these individuals will receive a payment based on the agreed performance.

Part of speech:
Use in a sentence:
We need a pay or play contract.
Pay or Play Contract