(a) balance of payment
41Advance payment — An advance payment, or simply an advance, is the part of a contractually due sum that is paid in advance, while the balance will only follow after receipt on the counterpart in goods or services.ee also*Advance against royalties *Pay or play… …
42Minimum Monthly Payment — The smallest amount of a credit card bill that a consumer can pay, to remain in good standing with the credit card company. Making the monthly minimum payment on time is the least a consumer needs to do, to avoid late fees and to have a good… …
43Compensated balance — Compensation Com pen*sa tion, n. [L. compensatio a weighing, a balancing of accounts.] 1. The act or principle of compensating. Emerson. [1913 Webster] 2. That which constitutes, or is regarded as, an equivalent; that which makes good the lack or …
44Compensation balance — Compensation Com pen*sa tion, n. [L. compensatio a weighing, a balancing of accounts.] 1. The act or principle of compensating. Emerson. [1913 Webster] 2. That which constitutes, or is regarded as, an equivalent; that which makes good the lack or …
45Principal balance — Principal balance, in regards to a mortgage or other debt instrument, is the amount due and owing to satisfy the payoff of the underlying obligation.Amortized mortgage loans automatically pay a portion of each monthly payment to the principal… …
46Lease Balance — The amount of money that a customer owes under the terms of a vehicle lease contract. The lease balance becomes important in two main situations. The first is in the event that a car is stolen and not recovered, is totaled in an accident or is… …
47Bill (payment) — A bill is a document demanding payment for an order previously supplied. Presentation of a bill is common practice on the part of restaurants, credit card companies, utilities, and other service providers. The bill for something is the total… …
48earnest payment — Part payment or deposit made to demonstrate seriousness in the purchase of goods and services or to bind a contract, with the remainder due at a particular time. If the contract is breached by failure to pay the agreed balance, then the… …
49Coin balance — Coin Coin (koin), n. [F. coin, formerly also coing, wedge, stamp, corner, fr. L. cuneus wedge; prob. akin to E. cone, hone. See {Hone}, n., and cf. {Coigne}, {Quoin}, {Cuneiform}.] 1. A quoin; a corner or external angle; a wedge. See {Coigne},… …
50Graduated-payment mortgages (GPMs) — A type of stepped payment loan in which the borrower s payments are initially lower than those on a comparable level rate mortgage. The payments are gradually increased over a predetermined period (usually 3,5, or 7 years) and then are fixed at a …
