payment

/'peimənt/
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payment

She makes an online payment for her new book.

Definition
  1. Noun:
    • The act of paying money: The process of giving money to someone for goods, services, or to settle a debt.
    • A sum of money paid: The actual amount of money that is given or transferred.
    • An act of requiting; returning in kind: (Formal) The act of giving something in return, often as a reward or punishment.
Usage and Examples
  • As the act of paying:
    • The payment of the invoice is due within 30 days.
    • She made the payment online using her credit card.
  • As the sum of money paid:
    • The monthly payment for the loan is $300.
    • We received a payment of $500 for the consulting work.
  • As requital (formal usage):
    • He viewed his community service not as a punishment, but as a payment for his mistake.
Advanced Usage
  • "Payment in kind": Payment made in goods or services rather than money.
    • The farmer accepted payment in kind with a portion of the harvested crop.
  • "Deferred payment": An arrangement to pay for something at a later date.
    • The store offers a plan with no interest for six months on deferred payments.
  • "Payment on account": A partial payment made for something, with the balance to be paid later.
    • The client made a $1000 payment on account toward the total project fee.
Variants and Related Words
  • Pay (verb): To give money in exchange for goods or services or to settle a debt.
    • I need to pay the rent by the first of the month.
  • Payable (adjective): Required to be paid; due.
    • The bill is payable upon receipt.
  • Repayment (noun): The action of paying back a loan.
    • The repayment schedule spans five years.
Synonyms
  • Remittance: A sum of money sent, especially by mail, in payment.
  • Settlement: The payment of a debt or claim.
  • Compensation: Something, typically money, awarded to someone in recognition of loss, suffering, or injury.
Related Phrases and Phrasal Verbs
  • To demand payment: To ask for or require payment forcefully.
    • The contractor demanded payment for the completed work.
  • To suspend payments: To temporarily stop making payments.
    • The company was forced to suspend payments to its creditors.
  • Payment terms: The conditions under which a seller will complete a sale, typically involving the timing and method of payment.
    • Our standard payment terms are net 30 days.
Related Idioms
  • "Down payment": An initial partial payment made when buying something on credit.
    • They saved for years to make a 20% down payment on the house.
  • "In full payment": Paying the entire amount owed.
    • This check is in full payment of my outstanding balance.
  • "Blood money" (Idiomatic): Money paid as compensation for a death, or money obtained at the cost of another's life. (Note: This is a figurative and often negative idiom related to the concept of payment as requital).
    • He refused to accept what he called "blood money" from the corporation responsible for the accident.
payment

She makes an online payment for her new book.

Noun
  1. an act of requiting; returning in kind
  2. the act of paying money
  3. a sum of money paid or a claim discharged

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