commutation


commutation
commutation com‧mu‧ta‧tion [ˌkɒmjˈteɪʆn ǁ ˌkɑː-] noun [countable]
INSURANCE a single large payment instead of a series of future payments:

• The assets of the insurer will be used to make a single, final payment, called a commutation, to policyholders.

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commutation UK US /ˌkɒmjʊˈteɪʃən/ noun [C or U]
FINANCE, INSURANCE the act of changing a financial agreement so that someone receives the whole of an amount of money immediately instead of receiving it at a later time in a series of smaller payments: »

Unless the policyholders are in need of short-term cash, there is no benefit to them in these commutations.

LAW the act of replacing a punishment with a less severe one: »

The committee also examined factors a governor might consider for commutation of death sentences.

»

Another 12 commutation requests were denied.

the act of travelling regularly between your home and the place where you work: »

They have developed an electric car for safe and sustainable commutation on city roads.

»

Join our Mail & Ride program to receive your monthly commutation ticket automatically by mail.

Compare COMMUTE(Cf. commute)

Financial and business terms. 2012.

Synonyms:
/ (of a greater punishment by a less)


Look at other dictionaries:

  • commutation — [ kɔmytasjɔ̃ ] n. f. • déb. XIIe; lat. commutatio « changement » 1 ♦ Didact. Substitution, remplacement. Commutation et permutation. Spécialt Substitution d un élément par un autre, dégageant des distinctions pertinentes (notamment en… …   Encyclopédie Universelle

  • Commutation — Com mu*ta tion, n. [L. commutatio: cf. F. commutation.] 1. A passing from one state to another; change; alteration; mutation. [R.] [1913 Webster] So great is the commutation that the soul then hated only that which now only it loves. South. [1913 …   The Collaborative International Dictionary of English

  • commutation — index clemency, compensation, compromise, exchange, immunity, mutuality, replacement, subrogation Burton …   Law dictionary

  • commutation — COMMUTATION. s. f. Changement. Il n est en usage que dans cette phrase, qui se dit en matière criminelle, Commutation de peine …   Dictionnaire de l'Académie Française 1798

  • commutation — mid 15c., from O.Fr. commutacion change, transformation, exchange, barter (13c., Mod.Fr. commutation), from L. commutationem (nom. commutatio) a change, alteration, noun of action from commutare to change, alter entirely (see COMMUTE (Cf.… …   Etymology dictionary

  • commutation — Commutation. substant. fem. Changement. Il n est en usage qu en cette phrase. Commutation de peine …   Dictionnaire de l'Académie française

  • commutation — [käm΄yə tā′shən] n. [ME & OFr commutacion < L commutatio, a changing < commutatus, pp. of commutare,COMMUTE] 1. an exchange; substitution 2. a) the substitution of one kind of payment for another b) the payment made ☆ 3. the act of… …   English World dictionary

  • Commutation — (v. lat. Commutatio), 1) Veränderung, Vertauschung; 2) (Rhet.), so v. w. Antimetabole; 3) (Commutationswinkel, Astr.), der Winkel, welchen die Linie von der Erde aus zur Sonne mit einer andern von der Sonne zu einem Planeten macht; er ist immer… …   Pierer's Universal-Lexikon

  • commutation — et changement, Commutatio …   Thresor de la langue françoyse

  • commutation — ► NOUN 1) the commuting of a judicial sentence. 2) the commutating of an electric current …   English terms dictionary