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payment Definition

pay·ment (pā′mənt)

noun

  1. a paying or being paid
  2. something that is paid
  3. penalty or reward

payment Synonyms

payment

n.

  1. The act of paying or being paid

    recompense, reimbursement, restitution, subsidy, return, redress, refund, remittance, reparation, disbursement, down, amends, cash, salary, wage, fee, sum, pay-off, repayment, indemnification, requital, defrayment, retaliation; see also pay 1.

  2. An installment

    portion part, amount; see adjustment 2, debt 1, installment, mortgage.

payment Finance Definition
In trading terms, an instruction to transfer funds or a financial asset to pay for a transaction. In the case of transferring money to pay for stock or another investment, until the transaction settles, it is not yet final.
payment Law Definition

n

Delivery of funds in settlement of a claim or debt; fulfillment of a monetary obligation.
payment Usage Examples

Preposition: of

  • fee: The service is subject to the payment of a fee.
  • dividend: A dividend tax voucher is sent to shareholders at their address on the Register at the time of payment of the relevant dividend.
  • invoice: For purchases on account, payment of invoice is due 30 days from date of invoice.

Converse of object

  • accept: We accept payment by Visa Electron, Visa, Switch, Maestro, Mastercard, JCB, Solo, check or cash.
  • receive: Kent received a payment of £ 500 in May 1723 for the work.
  • withhold: Indeed, that conclusion followed inexorably from the finding that the appellant had not been entitled to withhold payment.

Adjective modifier

  • monthly: These monthly mortgage payments are covered by the properties tenants who are paying our borrower rent every month.
  • direct: To get direct payments, you need to have a social worker, who will assess you for the support you need.
  • periodical: The main change proposed would see a shift from a lump sum payment at the outset to periodical payments.
  • interim: Pursuant to the sub-contract, Levolux carried out certain work on site and received a first interim payment.
  • consolatory: This year a change in the ICR procedures has enabled me to recommend consolatory payments in appropriate circumstances.
  • ex: In January 1998 SPU decided to award Mrs X an ex gratia payment of £ 298.

Preposition: by

  • check: Payment by check only, full details on the website above.
  • installment: Payment by installment can be arranged by the OU.

Noun used with modifier

  • redundancy: Staff over 65 will be entitled to a service based redundancy payment.
  • mortgage: The scheme allows him to leave his salary in his current account for the whole month, bringing down his mortgage payments.
  • gratia: In January 1998 SPU decided to award Mrs X an ex gratia payment of £ 298.
  • one-off: However, one-off payments linked to specific measures, like that at Heineken, can still be agreed.
  • lump: An order for an outright transfer might be coupled with a lump sum payment between the spouses.
  • royalty: The first sample contract is suitable for a limited or flat fee license, the second is for more complex licenses involving royalty payments.
payment Quotes

In epochs when cash payment has become the sole nexus of man to man.

—Carlyle,Thomas

Among my friends love is a payment. It is an old debt for a borrowing foolishly spent.

—Dunbar,William