payment
Definition
The partial or complete discharge of an obligation by its settlement in the form of the transfer of funds, assets, or services equal to the monetary value of part or all of the debtor's obligation.
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Related Terms
deferred payment, prepayment, prepayment risk, prepayment penalty, prepayment privilege, single-payment loan, additional principal payment, graduated payment, balance of payments, immediate payment annuity, stop payment, transfer payments, receive versus payment, standard payment calculation, down payment, periodic payment plan, minimum payment
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