It means the monetary consideration paid by one party to the other party in exchange for the commitment of the other party to do something or the cost of obtaining such commitment. It means that one party must pay the other party the corresponding price when it gains some benefits.
Relevant laws and regulations
Article 509 of the Civil Code: The parties shall fully perform their obligations as agreed.
The parties shall abide by the principle of good faith and perform the obligations of notification, assistance, confidentiality, etc. according to the nature, purpose and trading habits of the contract.
In performing the contract, the parties shall avoid wasting resources, polluting the environment and destroying the ecology.
