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How do you use prepayment in a sentence?

How do you use prepayment in a sentence?

Prepayment sentence example Adding in prepayment data can adjust the rates significantly. If Fairbanks imposed a prepayment penalty in violation of contract or law. People who paid an improper prepayment penalty were also eligible to get a refund of a portion of the amount of the prepayment penalty.

What does pre paying mean?

Prepayment is an accounting term for the settlement of a debt or installment loan in advance of its official due date. A prepayment may be the settlement of a bill, an operating expense, or a non-operating expense that closes an account before its due date.

What’s the base word for prepay?

prepay (v.) also pre-pay, “pay beforehand,” 1839 (implied in pre-paid), originally of postage, from pre- “before” + pay (v.).

Is it prepay or prepaid?

verb (used with object), pre·paid, pre·pay·ing. to pay or arrange to pay beforehand or before due: to prepay the loan.

What does prepaid amount mean?

Prepaid Amount means an amount of the loan prepaid prior to the agreed due date or, in case of a loan to be repaid in installments, an amount of the loan prepaid prior to the due date of any installment repayment.

Is prepayment one word or two?

prepayment ​Definitions and Synonyms

singular prepayment
plural prepayments

What is a prepaid schedule?

A prepayment schedule summarizes the order and priority in which the business makes or receives advance payments for a given number of transactions. The schedule is used in making spending decisions and forecasting future spending requirements in the managerial accounting process.

What does prepaid mean for a phone?

Prepaid service lets you pay in advance for monthly voice, text and data services for your mobile device. There’s no credit check, deposit or long-term contract required, like you’d have with a standard account (which gives you a bill for your usage at the end of each month).

What is hotel prepayment?

During the booking process, guests use their cards to pay for part of a reservation, often just the first night. Prepayment is usually for partially refundable or non-refundable bookings. So if the guest cancels, they wonʼt get that amount back.

What is prepaid plan?

What are Prepaid plans? With Prepaid, it means you’ll always pay/recharge for your plan upfront. This is seamless process if you link a payment method (such as a credit/debit card or PayPal) to your account, as this allows your plan to automatically recharge at the end of each plan period.

What is monthly prepayment?

The monthly prepayment provision is a percentage increase allowance on your original monthly mortgage payment, while the lump sum provision allows you to put money towards your mortgage principal. Annual percentage limit you are permitted to make a lump sum payment towards your mortgage.

How is the word’prepay’used in a sentence?

If you prepay now, the prepayment penalty could be enormous. Once they list the services, consumers prepay for these services. The consumer prepays for their automotive service at a fixed price. HUD has proposed a plan that would allow some owners to prepay. Some investors think that these bonds prepay more slowly than other bonds.

What is the legal definition of prepay student loan?

Legal Definition of prepay : to pay or pay the charge on in advance (as of date due or maturity date) no penalty for prepaying your student loan Other Words from prepay

Which is an example of a prepayment loan?

Financial Definition of prepayment. Prepayment occurs when a borrower pays off a loan earlier than expected. For example, let’s say that John Doe borrows $300,000 to buy a house in Phoenix. The loan is a 30-year mortgage at 5% interest. John lives in the house for five years and makes his payments on time every month.

When did the Postal Service have to start prepaying?

— Dom Difurio, Dallas News, 14 July 2021 The 2006 Postal Accountability and Enhancement Act required the Postal Service to prepay those expenses, a mandate that the agency could not meet.

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