- date of settlement
The Consumer Credit Act 1974 gives the customer the right under a regulated credit agreement to complete payments ahead of time and receive a rebate for doing so. The rebate is assessed according to the settlement date. Such settlement date will generally be either the instalment date (when paid on that date) or the date of the next instalment if the payment was made between instalment dates.
Easyform Glossary of Law Terms. — UK law terms.
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Settlement (finance) — Settlement (of securities) is the process whereby securities or interests in securities are delivered, usually against payment, to fulfill contractual obligations, such as those arising under securities trades. This involves the delivery of… … Wikipedia
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