Related Words

Pay Adjustment: Any change made to the pay rate of an employee, such as an increase or decrease to the rate of pay.

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

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.

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.

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

Paying Agent: An agent who makes principal and interest payments to bondholders on behalf of the issuer.

PAYE (Pay As Your Earn): People who earn income from employment or who receive a pension are liable for income tax under the PAYE system.

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.