Payment
101payment guaranty — A guaranty in which the signer is guarantying payment of the obligation upon the borrower s failure to pay without the bank having to first attempt to collect from the borrower or from any collateral. American Banker Glossary …
102payment date — date by which a payment must be given …
103Payment In Kind — payback of similar nature; payment in commodities (and not money), PIK …
104payment terms — conditions by which a payment will be made …
105Payment date — An ISO term. The date on which a payment is executed …
106Payment method — The way the ordering party settles a payment order …
107Payment order register number — Number to identify the Payment Order. See also Transaction reference number …
108Payment order type — A Group of Payment Orders with a similar purpose, origin or destination …
109payment on account — See: progress payment …
110payment by results — A system of payment in which an employee s pay is directly linked to his performance. The majority are premium bonus schemes. See also piece rate; lump sum …