payment in lieu

payment in lieu
index composition (agreement in bankruptcy)

Burton's Legal Thesaurus. . 2006

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  • payment in lieu of notice — (PILON) A contractual right to pay an employee a lump sum rather than require them to work out their statutory or contractual notice period. If there is no PILON clause in a contract of employment then an employer who pays an employee a lump sum… …   Law dictionary

  • payment in lieu — noun payment to an employee as an alternative to leave entitlements being taken …  

  • 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

  • lieu — [lju:, lu: US lu:] n [Date: 1500 1600; : French; Origin: Latin locus; LOCUS] in lieu (of sth) formal instead of ▪ extra time off in lieu of payment …   Dictionary of contemporary English

  • Payment — A payment is the transfer of wealth from one party (such as a person or company) to another. A payment is usually made in exchange for the provision of goods, services or both, or to fulfill a legal obligation. The simplest and oldest form of… …   Wikipedia

  • lieu — noun in lieu (of) instead of: extra time off in lieu of payment …   Longman dictionary of contemporary English

  • payment of check — The act of the drawee bank in handing over money, in the amount in which the check is drawn, to the payee or indorsee, or in giving the payee or indorsee something in lieu of cash, often a credit in his account at the bank in the amount of the… …   Ballentine's law dictionary

  • lump-sum payment — A single payment in contrast to installments; e.g. single premium payment for life insurance; a single lump sum divorce settlement; or single worker s compensation payment in lieu of future monthly installment payments. See also alimony …   Black's law dictionary

  • lump-sum payment — A single payment in contrast to installments; e.g. single premium payment for life insurance; a single lump sum divorce settlement; or single worker s compensation payment in lieu of future monthly installment payments. See also alimony …   Black's law dictionary

  • Lump-Sum Payment — A one time payment for the total or partial value of an asset. A lump sum payment is usually taken in lieu of recurring payments that would otherwise be received over a period of time. The value of a lump sum payment is generally less than the… …   Investment dictionary

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