Abbreviation for Cash On Delivery. Originally the term meant Collect on Delivery. However, “Collect” has been basterdized to Cash.
Collect on delivery or COD is a financial transaction where the payment of products and/or services received is done at the time of actual delivery rather than paid-for in advance. The term is mainly applied to consumer products purchased from a third party, where payment is made to or collected by the deliverer from the recipient rather than the sender, in the way that a collect call is also charged to the recipient instead of the caller. The delivery company in turn remits ...