en

payment on account

1

Terminological databases

EKI terminibaas Esterm

ID 707355 Last modified 30.12.2004
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Domain Financial Affairs - Taxation & Customs
  • a payment towards meeting a liability that is not the full amount of the liability. The sum paid will be credited to the account of the payer in the books of the payee as a part-payment of the ultimate liability.
payment on account
Usage examples
  • ... the successful tenderer may on request receive a payment on account equal to 90 % of the amount obtained by multiplying the net quantities taken over for a product, a destination and a delivery date by the unitary amounts indicated in his tender.

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