16:52
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LSDefine
Simple English definitions for legal terms
tret
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A quick definition of tret:
Term: TRET
Definition: Tret is a word used to describe when a seller gives a discount to a buyer because there is water or dust mixed in with the product being sold. It's like when you buy a bag of chips and some of them are crushed, so the store gives you a little bit of money back. Tret is similar to another word called tare.
A more thorough explanation:
Definition: Tret (tret) is an allowance or reduction in weight or quantity that a seller gives to a buyer because of water or dust that may be mixed with a commodity. This is similar to tare.
For example, if a buyer purchases a bag of rice that weighs 50 kg, but there is some dust mixed in, the seller may give a tret of 2 kg, so the buyer only pays for 48 kg of rice. Another example is if a buyer purchases a barrel of oil that is supposed to be 200 liters, but there is some water mixed in, the seller may give a tret of 10 liters, so the buyer only pays for 190 liters of oil.
These examples illustrate how tret is used to adjust the weight or quantity of a commodity to account for any impurities that may be present. This ensures that the buyer is only paying for the actual amount of the commodity they are receiving, and not for any added water or dust.