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Longman Dictionary of Contemporary English

payment

noun
COLLOCATIONS FROM OTHER ENTRIES
a compensation payment
▪ UK farmers may be in line for compensation payments.
a lease payment
▪ He is struggling to afford the lease payments on the office.
a mortgage payment
▪ If interest rates go down, your mortgage payments will fall.
a redundancy payment
▪ He was not entitled to a redundancy payment.
an insurance payment
▪ He'd fallen behind with his insurance payments.
balance of payments
down payment
▪ We’ve almost got enough money to make a down payment on a house.
make a down payment on
▪ We’ve almost got enough money to make a down payment on a house.
one-off payment
▪ It’s yours for a one-off payment of only £200.
overtime pay/payments/earnings
▪ The salary figure does not include overtime pay.
▪ If Joe worked 100 hours overtime at time and a half, his overtime payments would be $15,662.
receive payment/money/a pension etc
▪ They will be entitled to receive unemployment benefit.
stop payment
▪ My mother called the bank to stop payment on the check.
COLLOCATIONS FROM CORPUS
■ ADJECTIVE
advance
▪ The survey also found that 17 out of the 23 airlines capitalise interest on advance payments for aircraft being acquired.
▪ Terms of cash on delivery or advance payment should be instituted for future sales to consistently delinquent accounts.
▪ The industry needs to be clear: A deposit is an advance part payment.
annual
▪ He may however increase the annual payment to wheat farmers under the five-year phase out plan of the old farming policy.
▪ The coupon rate of 10 percent requires an annual interest payment of $ 100 per bond.
▪ A scheme run by the Countryside Commission gives farmers an annual payment for neglected hedgerow.
▪ Finally, assume that the annual payment is invested to earn an average effective annual rate of return equal to 12 percent.
▪ An annual payment is made, the amount depending upon the animal concerned.
▪ The annual payments in 1934 were about £6and3/4; millions.
▪ Suppose that we have a three-year bond with annual coupon payments of 10.75.
▪ But eurobonds make annual payments, and the appropriate method of calculating the yield to maturity is to use annual discounting.
down
▪ He bought our office building, using the cocoa profit as a down payment!
▪ Use 70 percent of their initial down payments to the government to buy as many licenses as they can afford.
▪ I felt even worse after I transferred a lot of kilocreds to Frejjis bank as a down payment.
▪ Lessees also find that the down payment on a purchased asset is much higher than the deposit required on a lease.
▪ For Gianjin Hu and his family, it took nearly five years to save enough money for a down payment.
▪ Would it be wiser to use a more conventional vehicle for a down payment?
▪ The Military Assistance Program of 1949 was, obviously, only a small down payment on a large long-term investment.
▪ Lenders typically require a higher down payment and may charge other fees.
interim
▪ The court has the power to include interest on an interim payment but will rarely do so.
▪ In either case, finance can be arranged by interim payments if liability is not an issue.
▪ Clearly, he will be entitled to an interim payment.
▪ He can do this whether the interim payment was voluntary or under Order.
▪ However, it is accepted that there are occasions when an interim payment is justified.
▪ Loss Adjusters may recommend an interim payment to assist the Policyholder.
Interim payments 1.51 Interim payments are one of the most important procedural developments in personal injury cases in recent years.
▪ Claimants would also be entitled to file for interim payments of US$2,500 for death or injury.
late
▪ Nat West says that late payment has recently been a significant factor in the demand for bank finance.
▪ It had been, as record retailer Bruce Webb suggested, a business of late payments and strong-arm collections.
▪ I am conscious of the late payment problem, which is something to which we are devoting great attention.
▪ Where he fell down was in failing to deliver on late payment of debt, which cost businesses dear.
▪ As the recession has deepened, so greater attention has focused on the issue of the late payment of debt.
▪ The survey bore out recent observations that smaller companies were bearing the brunt of bad debts and late payment.
▪ The owners sought to withdraw for late payment of an insurance premium required by the contract.
▪ New legislation to allow them to claim interest against late payments could come into effect soon.
monthly
▪ Just like a repayment mortgage, the interest rates can change, and this will affect your monthly payment.
▪ In either case, however, the business has the use of the asset and incurs a monthly payment obligation.
▪ Are your monthly credit payments more than 15-20 percent of your net income, excluding rent or mortgage?
▪ People on commissions or working for themselves often have difficulty maintaining monthly payments.
▪ Thus after year six, your monthly payments are higher than the standard rate demands.
▪ Budget the cost through fixed monthly payments and - depending on the project - offset some of the cost through tax relief.
▪ But with monthly payment, money balances will be held to meet expenditures up to one month in the future.
▪ The grant will be distributed over 3 monthly payments to ensure maximum accountability.
social
▪ You should also bear in mind that social security payments might be higher abroad.
▪ What shows up in the statistics as fringe benefits is really a private social welfare payment from the young to the old.
▪ Old age and disability pensions would be cut and social security payments no longer linked to pay.
▪ His only income is $ 790 in Social Security payments and $ 160 a month from Whitewater.
▪ The Government is desperate to launch the bank because it plans to automate social security payments and pensions in 2004.
▪ The federal government currently protects its nonworking elderly with a promise of guaranteed Social Security payments.
▪ Department of Social Security mobility payments to buy or lease a car.
▪ Never in my life have I seen social security payments abound unless they were for a pound of flesh.
■ NOUN
cash
▪ These range from the handling of simple, yet administratively inconvenient, cash payments to sophisticated electronic payment schemes.
▪ But these more subtle ways of winning access have not entirely displaced the direct cash payment.
▪ Some types of life assurance provide a cash payment on a director's retirement to buyout his or her shareholding.
▪ In a very real sense, payment of dividends represents a choice between future capital gains and current cash payments.
▪ They received an average cash payment of £12,468.
▪ That amounts to a savings about $ 25 million a month in cash payments, he said.
▪ Assistance may take the form of an offer of alternative accommodation or a cash payment.
▪ It includes all cash payments by the government, and all cash receipts.
compensation
▪ Mr Neilsen was unhappy about the compensation payment, but now certain that his campaign had worked.
▪ And workers' compensation payments to professional athletes would be offset by any payments available under a labor contract.
▪ Later in the month a further four firms admitted making compensation payments.
▪ It would be equally ridiculous to think of taxing only unemployed workers to finance the unemployment compensation payments which they receive.
▪ Gross margins before compensation payments fell by 7.5 % on the previous year.
▪ You pay tax on the compensation, but the corporation saves an offsetting amount of tax by deducting the compensation payment.
▪ Several other independent groups have sought and obtained compensation payments, but this was the largest so far.
▪ Increase in cereal compensation aid Compensation payments for half the fall in intervention prices. 3.
coupon
▪ The invoice amount also includes interest accrued from the previous coupon payment.
▪ It also assumes that there is an even number of coupon payment dates remaining before maturity.
▪ Thus we can calculate the money value of the final coupon payment and principal repayment on 30 March 1988 as follows.
▪ The seller is compensated for not receiving the next coupon payment by receiving accrued interest instead.
▪ The frequency of coupon payments can differ between bonds; for example, some bonds pay coupons quarterly, others pay annual coupons.
▪ The coupon payment terms can also differ between bonds.
▪ The interest accruing between X and C takes the net accrued interest back to zero on the coupon payment date.
▪ Suppose that we have a three-year bond with annual coupon payments of 10.75.
dividend
▪ The gain from leverage arises because the interest payments on bonds are tax-deductible whereas the dividend payments on shares are not.
▪ From an accounting point of view, dividend payment is a two-step process.
▪ To illustrate, suppose that all dividend payments are concentrated on a single day in each quarter.
▪ For these reasons, most finns strive to maintain a reasonably stable dividend payment from year to year.
▪ Fund managers may be able to maintain the high dividend payments only at the expense of capital.
▪ None the less, they hold on because they expect much bigger earnings in the future to eventually fuel dividend payments.
▪ If the dividend yield is 4 percent perannum, then the quarterly dividend payment is 1 percent.
▪ Finally, there are some legal constraints on dividend payments.
interest
▪ They've come to collect their interest payments.
▪ Eurotunnel suspended interest payments on its debts in October, 1994.
▪ Up to two thirds of the operating profits of owner-managed companies goes on interest payments, it is claimed today.
▪ The underlying rate of inflation, excluding mortgage interest payments, rose from 3.2 percent in January to 3.4 percent in February.
▪ The package involves splitting off the interest payments on the mortgages from the principal and selling each separately.
▪ Second, the studio must still meet heavy interest payments until it can reduce its debt.
▪ Since Uncle Sam lets firms deduct interest payments to bondholders, he tilts the field to-ward bonds.
mortgage
▪ Q Thank you for your interesting article on mortgage payment calculations.
▪ The mortgage payments were no small trouble, what with his sister gone; he needed to improve his profits, dramatically.
▪ Although she could no longer bear to live with her father, she could not abandon mortgage payments.
▪ Well, I hope I can chip in on the mortgage payments.
▪ This may, for instance, be in the form of an endowment policy or a mortgage payment protection plan.
▪ Your goal should be to charge enough rent to cover the mortgage payment, maintenance and other expenses.
▪ But imagine how easy your monthly budgeting would become if you could reduce your mortgage payments for the next three years.
▪ Maybe this Local did make mortgage payments.
part
▪ Did you get all monies applied for or only part payment or none at all?!
Part Payments Part payment is better than no payment.
▪ This payment could be either a deposit or mere part payment.
▪ The effect of a deposit or mere part payment is a matter of agreement between the parties.
▪ Better still, make the part payment with your credit card.
▪ That part payment will then be available for the buyer's other creditors.
▪ A mere part payment, however, is returnable.
▪ The figure of £15,778 under survey fees is part payment for the Race Relations Consultancy.
redundancy
▪ Money from a redundancy payment should not affect your right to this benefit.
▪ The redundancy payments legislation allows employees a four-week trial period in which to make up their minds.
▪ The 20 members of staff were offered alternative employment but accepted redundancy payments instead.
▪ These figures highlight the low level of statutory minimum redundancy payments for both men and women.
▪ As a result of this change, no statistics are now available on the size of redundancy payments made directly by employers.
▪ However, women receive lower redundancy payments than men and a larger proportion of them are ineligible for payments altogether.
▪ The relatively high levels of unemployment and redundancy payments in the north are important factors to consider.
▪ In effect, therefore, the redundancy payment is based on final earnings.
system
▪ So the service offers a payment system and a management information system rolled into one.
▪ The database and a new Medicare payment system are scheduled to begin operating next year and be completed in 1999.
▪ Supportive policies A new skill-based payment system was designed with employee participation.
▪ States like Massachusetts, which still rely primarily on traditional third-party payment systems, find their costs doubling every five years.
▪ Similarly, Donald Roy's well-known studies also showed the conscious manipulation of payment systems.
▪ The plan would set up a new payment system for services to Medicare patients who see their doctors at hospital outpatient clinics.
▪ Comlon as a part of its employee relations policy is restructuring and improving internal communications and repackaging the payment systems.
▪ The health payment system can discourage doctors from doing the right thing, the report said.
tax
▪ The foreign company would also assist the Forestry Department in collecting royalty and tax payments from the timber companies.
▪ They even subsidize rural fire districts through property tax payments.
▪ As well as differential tax rates, the timing of tax payments may also differ.
▪ It also would generate up to $ 2 billion in federal, state and local royalty and tax payments.
▪ The public would not easily distinguish between local and national tax payments.
▪ The council says the withholding of poll tax payments and industrial action by treasury staff have made it difficult to collect money.
▪ But they reduced tax payments by only 6 percent during the years 1959 to 1963.
transfer
▪ The less well off do receive transfer payments and the rich face the highest rates of income tax.
▪ So maybe we can have voluntary transfer payments from rich to poor.
▪ Government need tax revenue to pay for public goods and to make transfer payments to the poor.
▪ The structure of taxes and transfer payments can have a significant impact upon the distribution of income.
▪ Many of these changes have been directly related to progressive taxation, transfer payments and high levels of employment.
▪ This distinction between government purchases and transfer payments is relevant for our discussion of the growth of government.
▪ The second row of Table 16-1 shows that government spending on transfer payments has also risen faster than national income.
▪ One can argue that transfer payments involve a lesser degree of government intervention in the economy than do government purchases.
welfare
▪ This fuelled Opposition fears that the committee was set up to rubber stamp massive cuts in welfare payments.
▪ The liberal looks at welfare payments and sees them as pitifully low.
▪ Tax benefits are consumer led, unlike traditional welfare payments, which are subject to the Government's control of public expenditure.
▪ In any event, the welfare payment, from the point of view of the poor, is anything but negligibly small.
▪ In February 1992 the government had introduced minimal safety-net welfare payments, for which some 7,400,000 people were estimated to be eligible.
▪ What shows up in the statistics as fringe benefits is really a private social welfare payment from the young to the old.
▪ Rather than compromise on welfare payments, they were prepared to resign and leave social butchery to the Tories.
▪ It would be absurd and self-defeating to ask poor families to pay the taxes needed to finance their welfare payments!
■ VERB
accept
▪ He asks a hotelier if he will accept the cheque in payment of a bill for £15.
▪ Finally, the fragment from Pindar indicates that Persephone accepts recompense or payment of penalty from some souls.
▪ He accepted no payment, and ignored a ban on his stroking by the Dean of Lismore.
▪ They are charged with protecting and accepting huge payments from the drug organization reputedly headed by Amado Carrillo Fuentes.
▪ All her creditors were asked to execute the Debt of Trust, and agree to accept payment out of the Trust Estate.
▪ Although traditional lenders take into account lottery income, they do not accept the payments as collateral.
▪ In accepting the unofficial payment, the hierarchy had to be respected.
▪ If the grant can not meet the whole bill some funeral directors may accept weekly payments.
include
▪ His benefit package may include the payment of school fees for his children and the continuation of pension arrangements.
▪ Holders tendering Notes will also receive accrued and unpaid interest up to, but not including, the payment date.
▪ Cash includes cheque payments, bank transfers and credit card payments.
▪ Other terms of his probation include payment of a $ 3, 200 fine and 250 hours of community service.
▪ This arises because the futures contract is traded at a clean price and does not include accrued interest payments.
▪ Services include making sure payments are collected and insurance and taxes are paid on loans that are packaged and resold to investors.
▪ You must include all payments actually made in those eight calendar weeks.
▪ It includes all cash payments by the government, and all cash receipts.
make
▪ Instead of making an outright payment to a beneficiary the trustees may decide to lend monies to a beneficiary.
▪ Up until the time of his death, he had been making payments on the $ 5 million agreement.
▪ There is no final dividend and Young said it did not expect to make a payment for 1992.
▪ Women themselves learned and prospered by weekly contact with each other as they came together to make their formal installment payments.
▪ This period applies regardless of any direction contained in the will to make a payment earlier.
▪ The plans, in turn, make fixed payments to their doctors based on the same criteria.
▪ That is, they can draw on their account and make payments to other people in excess of the amount of money they have deposited.
▪ It began making payments in 1993 and is scheduled to make payments for the next 50 years.
meet
▪ The family lands were mortgaged to meet the payments, and worse was to follow.
▪ Would a certain microchip company survive for twenty years to meet its semiannual interest payments?
▪ According to Cadilhe, the then Finance Minister, the deficit was entirely explicable in terms of the need to meet interest payments.
▪ If the homeowner can not meet the loan payments, the lender can foreclose and resell the house to recoup the loss.
▪ The overall sum required to meet the payments due under the scheme to B.C.C.I. depositors is in the region of £78m.
▪ It was becoming harder to meet the payments on their mortgages.
▪ Second, the studio must still meet heavy interest payments until it can reduce its debt.
▪ Capacity refers to whether the borrowing firm has the financial capacity to meet required account payments.
provide
▪ Some types of life assurance provide a cash payment on a director's retirement to buyout his or her shareholding.
▪ It did not provide compensatory payments.
▪ Democrats Also provide payments to disabled noncitizens.
▪ The Bill provides for the direct payment to qualifying lenders of the mortgage interest component of income support.
▪ Although they provide a guaranteed pension payment, the return on investment is usually very low.
▪ Computer bureaux and other persons providing computer services for payment can now register a service mark.
receive
▪ For example, employees may receive bonus payments on the successful conclusion of their overseas assignments.
▪ He swears in an affidavit that he received no payment for assisting Pepper with the book.
▪ Members will, of course, continue to receive payment on retirement or resignation from the Bank.
▪ Two days before the event, the campaign had received payment for only 750 tickets.
▪ The less well off do receive transfer payments and the rich face the highest rates of income tax.
▪ It will be another five years before welfare recipients start becoming ineligible to receive welfare payments underwritten by the federal government.
▪ However, women receive lower redundancy payments than men and a larger proportion of them are ineligible for payments altogether.
▪ The purpose of the tax certificate is to permit a sub-contractor to receive payment from a builder without deduction of tax.
reduce
▪ But imagine how easy your monthly budgeting would become if you could reduce your mortgage payments for the next three years.
▪ Also in Medicaid, the budget proposed to reduce payments to hospitals that serve a disproportionate number of poor patients.
▪ This will reduce your payments initially but will not stop them going up if the standard variable rate rises.
▪ Work out reduced payments with creditors; most are reasonable.
▪ But they reduced tax payments by only 6 percent during the years 1959 to 1963.
▪ People will understate how much they value the good in order to reduce their own payments, just as in a private market.
require
▪ The company was not bound to make agreements in the same form or to require any payment.
▪ The coupon rate of 10 percent requires an annual interest payment of $ 100 per bond.
▪ Papal indulgences which required payment and which greatly increased papal revenues served the same purpose.
▪ They do so, however, only for popular programs which require fixed payments to qualified recipients.
▪ Third-party producers often require a royalty as payment for their work.
▪ Capacity refers to whether the borrowing firm has the financial capacity to meet required account payments.
▪ In the event the Hansard Society raised only a fraction of the sum required and no consultancy payment was made.
▪ Lenders typically require a higher down payment and may charge other fees.
PHRASES FROM OTHER ENTRIES
a balloon payment
▪ Use the loan to pay off the balloon payment.
part payment
▪ A mere part payment, however, is returnable.
▪ Better still, make the part payment with your credit card.
▪ Did you get all monies applied for or only part payment or none at all?!
▪ If the guest took up the booking, the deposit was part payment of the full price.
▪ That part payment will then be available for the buyer's other creditors.
▪ The effect of a deposit or mere part payment is a matter of agreement between the parties.
▪ The figure of £15,778 under survey fees is part payment for the Race Relations Consultancy.
▪ This payment could be either a deposit or mere part payment.
subsistence allowance/payment etc
▪ He would also have received a subsistence allowance from his employers.
▪ Parish authorities generally were constantly reviewing their ideas about what constituted a minimum acceptable subsistence payment during this period.
▪ They consist of: £29 a day subsistence allowance to cover meals, taxis and other incidentals.
▪ They recommended that volunteers receive subsistence payments for child minding and other special needs.
▪ To receive their full daily subsistence allowances, MEPs must have taken part in half the roll-call votes.
▪ Travelling and subsistence allowances are not subject to tax.
EXAMPLES FROM OTHER ENTRIES
▪ Flood victims received a one-time payment of $2,000 from the government.
▪ He makes monthly payments into his ex-wife's bank account.
▪ Most hotels here only accept payment in dollars.
▪ penalties for late payment of taxes
▪ The family spends about $1,800 a month on their mortgage payments.
▪ They have a monthly car payment of £220.
▪ Your first payment is due on July 16th.
EXAMPLES FROM CORPUS
▪ He received a large cash payment from his Personal Accident Policy.
▪ If the defendant makes a payment into court, the plaintiff may seize it and call quits.
▪ Its investors pay households to use these resources as capital, which the investors offer to firms in exchange for payment.
▪ Sixteen companies and around 300 sub-contractors had claimed £85m of extra payments on the £2.3 billion theme park.
▪ They have a proven record of bonus payments to their with-profits policyholders for every year since 1824.
▪ They refused to make the payment and cancelled her direct debit.
▪ Would it be wiser to use a more conventional vehicle for a down payment?
Wikipedia

Payment

A payment is the transfer of an item of value from one party (such as a person or company) to another in exchange for the provision of goods, services or both, or to fulfill a legal obligation.

The simplest and oldest form of payment is barter, the exchange of one good or service for another. In the modern world, common means of payment by an individual include money, check, debit, credit, or bank transfer, and in trade such payments are frequently preceded by an invoice or result in a receipt. However, there are no arbitrary limits on the form a payment can take and thus in complex transactions between businesses, payments may take the form of stock or other more complicated arrangements.

In law, the payer is the party making a payment while the payee is the party receiving the payment.

The Collaborative International Dictionary

Payment

Payment \Pay"ment\, n. [F. payment, paiement. See Pay to requite.]

  1. The act of paying, or giving compensation; the discharge of a debt or an obligation.

    No man envieth the payment of a debt.
    --Bacon.

  2. That which is paid; the thing given in discharge of a debt, or an obligation, or in fulfillment of a promise; reward; recompense; requital; return.
    --Shak.

  3. Punishment; chastisement. [R.]

Wiktionary

payment

n. 1 (context uncountable English) The act of paying. 2 (context countable English) A sum of money pay in exchange for goods or services.

WordNet

payment

  1. n. a sum of money paid [ant: nonpayment]

  2. the act of paying money [syn: defrayal, defrayment] [ant: evasion]

Douglas Harper's Etymology Dictionary

payment

late 14c., from Old French paiement (13c.), from paiier (see pay (v.)).

Usage examples of "payment".

Court was unable to concede that a Georgia statute levying on inhabitants of the State a poll tax payment of which is made a prerequisite for voting but exempting females who do not register for voting, in any way abridged the right of male citizens to vote on account of their sex.

The husband married again, and on his return to Massachusetts, his ex-wife petitioned the Massachusetts court to adjudge him in contempt for failing to make payments for her separate support under the earlier Massachusetts decree.

Equally consistent with the requirements of due process is a statutory procedure whereby a prosecutor of a case is adjudged liable for costs, and committed to jail in default of payment thereof, whenever the court or jury, after according him an opportunity to present evidence of good faith, finds that he instituted the prosecution without probable cause and from malicious motives.

Clinton told Panetta upon hearing the news that Reno had asked for another independent counsel, this time to investigate his friend and Housing secretary Henry Cisneros for allegedly lying to the FBI about payments made to a former mistress.

Track Almanac subscribers to tell them that their remaining payments should be made to another publication called What to Expect.

Miss Ames, I think that my father and Hippocrates would never have seen eye to eye on the matter of payment for hire.

Shere Mahomed, Ameer of Meerpore, on his own application was allowed, on the payment of half a lac of rupees yearly, to participate in the treaty granted to the Ameers of Hyderabad.

But though uttered by a Roman cardinal, even such an expression can hardly be termed violent when applied to the synod which established free elections to bishoprics, suppressed the right of bestowing the pallium, of exacting annates and payments to the papal chancery, and which was endeavouring to restore the papacy to evangelical poverty.

It was also the duty of the armarian, under the orders of his superior, to provide the transcribers of manuscripts with the writings which they were to copy, as well as all the materials necessary for their labors, to make bargains as to payment, and to superintend the work during their progress.

Most often, it dribbled in unpredictably in cash payments made in small bills that she counted out in front of me, making me feel guilty and avaricious for each and every dollar I was collecting.

The mortgage on the farm was nearly due, and the loan payment on the hay baler Biff had bought two years before.

She handed me some certificates, and begged me to write a petition which she would present herself to the secretary of war, adding that she could only offer me her heart in payment.

In that time, they continued to do odd jobs for King Benny, took in some numbers action for an Inwood bookie and occasionally strong-armed players late on loan shark payments.

The public offence of bribery may be defined as the offering or giving of payment in some shape or form that it may be a motive in the performance of functions for which the proper motive ought to be a conscientious sense of duty.

I told him he might wait for you in vain, and just then the prince came up in a rage, and told the inn-keeper that now you were gone he might look to you for his payment.