Related Words

On-Call Pay: Additional compensation awarded to employees who are required to remain on call during off-duty hours.

Payment Float: Company-written checks that have not yet cleared.

Payment Limitation: The maximum annual amount of commodity program benefits a person can receive by law. Persons are defined under payment limitation regulations, established by USDA, to be individuals, members . . . View Full Definition

Payment Quantity: The quantity of production eligible for production flexibility contract payments under the FAIR Act of 1996. Payment quantity is calculated as the farm’s program yield (per acre) multiplied . . . View Full Definition

Payment Date: The date on which shareholders of record will be sent a check for the declared dividend.

Payload: Anything that an aircraft carries beyond what is required for its operation during flight, theoretically that from which revenue is derived, such as cargo and passengers.

Payee: The person to whom a debt instrument, such as a check or promissory note, is made payable, obligee, the receiver.

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 Cap: A Payment Cap is the maximum amount for a payment under an Adjustable Mortgage Loan, regardless of the increase in the interest rate. If the payment is less than the interest alone, negative . . . View Full Definition