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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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Hidden Dangers of Monthly PaymentsFocus on the long-term cost of the loan, not the monthly payment. "Many car dealers or even mortgage lenders will entice borrowers by asking how much they can afford to pay each month," said Janet Kin ... Read more

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Nearby Terms

payee
payer
paying agent
paying-in book
paying-in slip
payment
payment adjustment interval
payment bond
payment cap
payment change date
payment date

Popular 'Accounting' Terms

current ratio
equity
working capital
asset
EBITDA
revenue
net income
negotiable
net profit
net worth

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

Mentioned in these terms

recast payment
break-even payment rate
Electronic Federal Tax Payment System (EFTPS)
cash payment to suppliers
balance of payments deficit
Corporate Trade Payment (CTP)
documents against payment (D/P)
holocaust restitution payments
deferred payment option
contingent payments