goodwill payment


goodwill payment
goodwill payment goodwill payment payment

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goodwill payment UK US noun [C]
COMMERCE a payment made by a company to a customer who has experienced a problem with its products in order to try to keep the customer: »

Although the insurance firm refused to pay her claim, they did offer her a goodwill payment of £5,000.

ACCOUNTING a payment made by someone buying a business for things that cannot be directly measured, for example, customers' loyalty
See also EX-GRATIA(Cf. ↑ex-gratia)

Financial and business terms. 2012.

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