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What is meant by a "lapsing offer"?
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When something lapses, it ends. Many types of business offers and/or transactions are made with a specified time limit in place. Once the predetermined and announced period of time has elapsed, the offer is no longer valid or available - it has become a lapsed offer.
Examples of situations using lapsed offers include discount coupons that are good until a given date, contracts that must be signed and validated by a given date or they become null and void, or proposals to take a defined course of action that must be approved within a certain period of time or the proposal is withdrawn. The purpose of a lapsing offer is to limit the amount of time for which the company or business is responsible for honoring the terms of the offer.
Posted by stolperia on May 18, 2012 at 2:21 AM (Answer #1)
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