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Payment
PaymentThe amount required to repay a loan, including interest and fees. RELATED TERMS-------------------------------------- Loan Something lent (usually money) that will have to be given or paid back (usually with interest). Interest The amount of money a lender loans a borrower to pay for using the borrower's principal. SIMILAR TERMS-------------------------------------- Payment date The date on which shareholders of record will be sent a check for the declared dividend. Payment float Company-written checks that have not yet cleared. Payment in kind The use of a good or service as payment, instead of cash. Payment in kind (PIK) bond A bond that gives the issuer an option (during an initial period) either to make coupon payments in cash or in the form of additional bonds. Payments netting Reducing fund transfers between affiliates to only a netted amount. Netting can occur on a bilateral basis (between pairs of affiliates), or on a multi-lateral basis (taking all affiliates together). Payments pattern Describes the collection pattern of receivables. The pattern might describe the probability that a 72-day-old account will still be unpaid when it is 73 days-old. Payments system Collective term for mechanisms (both paper-backed and electronic) for moving funds, payments and money among financial institutions throughout the nation. PREVIOUS AND NEXT TERMS-------------------------------------- Paydown In a Treasury refunding, the amount by which the par value of the securities maturing exceeds that of those sold. In the context of general equities, paying a lower price in an accumulation of stock. Paydown factor The portion of cash subtracted each month from the principal of a mortgage security divided by the original principal of the security. Payee A person receiving payment through any form of money transfer method. Payer The person making a payment to a payee. Paying agent An agent who makes principal and interest payments to bondholders on behalf of the issuer. Payment Payment date The date on which shareholders of record will be sent a check for the declared dividend. Payment float Company-written checks that have not yet cleared. Payment in kind The use of a good or service as payment, instead of cash. Payment in kind (PIK) bond A bond that gives the issuer an option (during an initial period) either to make coupon payments in cash or in the form of additional bonds. Payments netting Reducing fund transfers between affiliates to only a netted amount. Netting can occur on a bilateral basis (between pairs of affiliates), or on a multi-lateral basis (taking all affiliates together). We thank you for using the Financial Dictionary to search for Payment. If you have a better definition for Payment than the one presented here, please let us know by making use of the suggest a term option. This definition of Payment may be disputed by other professionals. Our attempt is to provide easy definitions on Payment and any other medical topic for the public at large.
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