Total Payment Definition: 137 Samples | Law Insider (2024)

FAQs

What is the meaning of total payment? ›

Total Payment means, for any Lease, a level amount set forth in the Lease and payable monthly in advance by the related Lessee equal to the sum of the Base Payment plus the Local Fees and Taxes.

Related Definitions

Total Payment Due means the current balance shown in the Card Account Statement to be outstanding as at the date of the Card Account Statement.

The phrase "total amount due" on an invoice refers to the final sum of money that the recipient of the invoice is required to pay. It represents the complete outstanding balance that the customer owes to the seller or service provider for the goods or services rendered.

Contract payment terms often include details on how invoices should be submitted, the payment due date, and any late payment penalties or interest charges. It's also important to include provisions for confirming the receipt of payments, such as receipts, acknowledgment of invoices, or other forms of documentation.

This number tells you the total amount of money you will have paid over the life of your mortgage. The “total of payments” is found on page 5 of the Closing Disclosure form in the “Loan Calculations” section. This total includes principal, interest, mortgage insurance (if applicable), and loan costs.

To find the total amount paid at the end of the number of years you pay back your loan for, you will have to multiply the principal amount borrowed with 1 plus the interest rate. Then, raise that sum to the power of the number of years. The equation looks like this: F = P(1 + i)^N.

The difference between your principal and interest payment and your total monthly payment is that your total monthly payment usually includes additional costs like homeowners insurance, taxes, and possibly mortgage insurance.

Total Amount Payable means the amounts due for payment under the Agreement together with all taxes and other sums payable; Total Amount Payable means the amount credited to a Participant's Cash Account and the Participant's Stock Account. Sample 1Sample 2Sample 3.

What is the minimum payment due? 'Minimum Payment Due' basically refers to the small fraction of the total outstanding bill amount that you must mandatorily pay to the bank in case you are not able to pay the entire bill amount.

A total is the number that you get when you add several numbers together or when you count how many things there are in a group.

What is the meaning of total amount to be paid? ›

Amount to be paid is the debt to be paid or salary or interest or anything. It has many meanings depending upon the sentence. Amount to be paid is just the sum of money that needs to be given to a particular person for a particular job.

Amounts Due means the principal amount of, and any accrued but unpaid interest, including any Additional Amounts, on, the Debt Securities.

Some examples of this can be the following: Discounts for early payments: For example, "net 30 5/10" means a customer has 30 days to pay in full and will receive a discount of 5 percent if the customer pays the invoice within the first ten days. Your company won't apply the deal if the customer pays later than that.

Payment is the performance of an obligation to pay money. A person under such an obligation is called a debtor, and a person to whom the obligation is owed is called a creditor. The obligation may arise in various ways, but it is most commonly the result of a commercial transaction or contract between the parties.

Payment terms inform customers about what payments you accept, due dates or deadlines, and penalties for late or missed payments. Your payment terms must follow all applicable laws for your business and consumers. Having clear payment terms encourages on-time payments and builds trust with your customers.

Total compensation is the sum of an employee's salary plus any additional payments. Benefits, anniversary bonuses, commissions, perks, and tips are all considered forms of additional payment.

TPV stands for “Total Payment Volume (TPV)” and is a term most often utilized within the payments sector, including digital payment technology companies and FinTech startups. Total payment volume (TPV) represents the total monetary value of all transactions processed by a payment platform over a given period.