What is payment?

  • (noun): A sum of money paid.
    See also — Additional definitions below


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

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Some articles on payment:

Treaty Of Fort Clark - Terms - Payment
... Article V, the Osage were to receive an annual payment Great Osage nation, the sum of eight hundred dollars, and to the Little Osage nation, the sum of four hundred dollars ...
Anglo-American Loan - Agreement - Repayment
... The last payment was made on 29 December 2006 for the sum of about $83m (£45.5m), the 29th being the last working day of the year ... The final payment was actually six years late, the British Government having suspended payments due in the years 1956, 1957, 1964, 1965, 1968 and 1976 because the exchange ... After this final payment Britain's Economic Secretary to the Treasury, Ed Balls, formally thanked the US for its wartime support ...
Thirlage - Multure
... Multure, pronounced 'Mooter', was the name for the payment a fixed proportion of the tenant's grain, paid to the miller by the suckener to grind the corn ... The term 'bannock' denoted the payment to a miller's servant amounting to a handful of meal, in addition to that given as knaveship, this being a handful of cereal from each load milled ... of thirlage the term 'Lick of goodwill' or 'lock' was the term for the miller's payment for grinding the cereal, etc ...
Statutory Holdback
... law that requires an owner engaging a contractor to hold a particular percentage of payment for a stipulated length of time ... who have worked on the project are entitled to payment based on quantum meruit, and the courts will allow a lien against any property which their work has improved, should they not receive payment ... by any subcontractors who are denied payment by the contractor who employed them on the project ...
Payment - See Also
... Accounting Alternative Payments APACS (The UK Payments Association) Business Commerce Financial transaction Money Trade ...

More definitions of "payment":

Famous quotes containing the word payment:

    There are always those who are willing to surrender local self-government and turn over their affairs to some national authority in exchange for a payment of money out of the Federal Treasury. Whenever they find some abuse needs correction in their neighborhood, instead of applying the remedy themselves they seek to have a tribunal sent on from Washington to discharge their duties for them, regardless of the fact that in accepting such supervision they are bartering away their freedom.
    Calvin Coolidge (1872–1933)

    Put God in your debt. Every stroke shall be repaid. The longer the payment is withholden, the better for you; for compound interest on compound interest is the rate and usage of this exchequer.
    Ralph Waldo Emerson (1803–1882)

    Latin America is very fond of the word “hope.” We like to be called the “continent of hope.” Candidates for deputy, senator, president, call themselves “candidates of hope.” This hope is really something like a promise of heaven, an IOU whose payment is always being put off. It is put off until the next legislative campaign, until next year, until the next century.
    Pablo Neruda (1904–1973)