back payment

back payment
An overdue payment from an debtor to an creditor on money owed.

The employer payed a back payment to his employee on his wages from 3 months earlier.


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  • back payment — ► HR money that is paid to an employee because of a pay rise at an earlier time, or the act of paying this money: »I am due to receive back payments for the past six months work. ► an amount of money owed that has not been paid back by the… …   Financial and business terms

  • back payment — / bæk ˌpeɪmənt/ noun 1. a payment which is due but has not yet been paid 2. the act of paying money which is owed …   Dictionary of banking and finance

  • back payment — / bæk ˌpeɪmənt/ noun paying money which is owed …   Marketing dictionary in english

  • payment — The amount required to repay a loan, including interest and fees. Bloomberg Financial Dictionary * * * payment pay‧ment [ˈpeɪmənt] noun 1. [countable, uncountable] FINANCE an amount of money that must be or has been paid, or the act of paying it …   Financial and business terms

  • back — /bæk/ noun the opposite side to the front ● Write your address on the back of the envelope. ● Please endorse the cheque on the back. ■ adjective referring to the past ● a back payment ■ adverb so as to make things as they were before ● He will… …   Dictionary of banking and finance

  • back — /bæk/ noun the opposite side to the front ● Write your address on the back of the envelope. ● The conditions of sale are printed on the back of the invoice. ● Please endorse the cheque on the back. ■ adjective referring to the past ● a back… …   Marketing dictionary in english

  • Payment protection insurance — Payment protection insurance, (also known as PPI, credit protection insurance, loan repayment insurance, not to be confused with income protection or credit card cover) is an insurance product that is often designed to cover a debt that is… …   Wikipedia

  • payment in full — The giving of all funds due to another. This language is often inserted on the back of check above the place for endorsement to prove that the payee accepts the payment as complete. Category: Business, LLCs & Corporations → Business Accounting,… …   Law dictionary

  • Back to Basics (campaign) — Back to Basics was an ill fated attempt to relaunch the government of British Prime Minister John Major in 1993. Announced at the Party Conference of that year, the initiative was intended to focus on issues of law and order, education and public …   Wikipedia

  • Payment recovery — firms specialize in getting vendors to return money inadvertently paid to them. In corporate America, this frequently occurs when accounts payable staff accidentally pay a duplicate invoice. Another situation in which this might occur is when,… …   Wikipedia

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