Payment In Full definition: Copy, customize, and use instantly
Introduction
The term "Payment In Full" refers to the complete settlement of a debt or financial obligation as specified in a contract. It signifies that the required amount has been paid entirely, without any remaining balance. "Payment In Full" is crucial for clarifying when a financial obligation has been satisfied, ensuring both parties are aligned on the completion of payment. This term helps prevent future disputes about outstanding amounts and is often used in various contractual agreements, including loan agreements, sales contracts, and leases.
Below are various examples of how "Payment In Full" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Payment In Full" as a financial settlement
This definition ties "Payment In Full" to the full settlement of an outstanding balance.
"Payment In Full" means the complete payment of the total amount due under the terms of this agreement, leaving no remaining balance.
Definition of "Payment In Full" as a condition for release
This definition connects "Payment In Full" to the requirement for the release of a product or service.
"Payment In Full" refers to the requirement that the full agreed-upon amount must be paid before the release of goods or services to the purchaser.
Definition of "Payment In Full" as a loan settlement
This definition links "Payment In Full" to the conclusion of a loan repayment.
"Payment In Full" means the settlement of all amounts due under the loan, including principal, interest, and any applicable fees.
Definition of "Payment In Full" as a contractual obligation
This definition applies "Payment In Full" to a situation where it is necessary to fulfill a contractual obligation.
"Payment In Full" refers to the payment of all outstanding amounts owed under the contract, fulfilling all financial obligations as set forth in the agreement.
Definition of "Payment In Full" as an installment conclusion
This definition ties "Payment In Full" to the completion of installment payments.
"Payment In Full" means the final installment payment is made, completing the full payment for the contract or purchase agreement.
Definition of "Payment In Full" as a tax settlement
This definition links "Payment In Full" to the payment of taxes owed.
"Payment In Full" refers to the payment of all taxes owed under the tax assessment, leaving no outstanding liabilities for the taxpayer.
Definition of "Payment In Full" as an agreement closure
This definition connects "Payment In Full" to the closure of an agreement or contract.
"Payment In Full" means the complete settlement of all obligations, after which the agreement is considered closed and no further payments are due.
Definition of "Payment In Full" as a final payment
This definition clarifies "Payment In Full" as the final payment for services rendered.
"Payment In Full" refers to the final sum paid to cover all amounts due for services rendered under this agreement.
Definition of "Payment In Full" as a condition for cancellation
This definition ties "Payment In Full" to a condition for the cancellation of certain clauses in the agreement.
"Payment In Full" means the amount due under this contract must be completely paid to cancel any claims or obligations from either party.
Definition of "Payment In Full" as a legal requirement
This definition connects "Payment In Full" to its legal implication in contracts.
"Payment In Full" refers to the full and complete payment required by law or contract to discharge any debts or financial obligations between the parties involved.
Definition of "Payment In Full" as a settlement agreement
This definition links "Payment In Full" to an agreement that settles financial disputes.
"Payment In Full" means the amount agreed upon in the settlement agreement, which, when paid, resolves all outstanding claims.
Definition of "Payment In Full" as a credit settlement
This definition ties "Payment In Full" to the settlement of credit.
"Payment In Full" refers to the complete payment of any credit balance due, effectively clearing any debt associated with the credit agreement.
Definition of "Payment In Full" as a real estate transaction
This definition connects "Payment In Full" to the final payment in a real estate transaction.
"Payment In Full" means the total amount due for the property must be paid in its entirety before the transaction can be completed and ownership transferred.
Definition of "Payment In Full" as a condition for discharge of obligations
This definition applies "Payment In Full" to the discharge of obligations.
"Payment In Full" refers to the payment of the total outstanding amount, discharging all financial obligations under this agreement.
Definition of "Payment In Full" as a settlement for services
This definition connects "Payment In Full" to the full settlement for services rendered.
"Payment In Full" means the total amount for services provided must be paid completely, satisfying all obligations for compensation.
Definition of "Payment In Full" as a debt closure
This definition links "Payment In Full" to the closure of a debt.
"Payment In Full" refers to the complete payment of the entire debt amount, after which the creditor has no further claims against the debtor.
Definition of "Payment In Full" as a vendor requirement
This definition ties "Payment In Full" to a vendor's requirement for completing a sale.
"Payment In Full" means the vendor requires full payment before goods are shipped or services are rendered.
Definition of "Payment In Full" as a guarantee for delivery
This definition links "Payment In Full" to a guarantee of delivery.
"Payment In Full" refers to the complete payment made to guarantee the delivery of the product or service as outlined in the contract.
Definition of "Payment In Full" as a sales agreement condition
This definition applies "Payment In Full" to a condition within a sales agreement.
"Payment In Full" means the purchaser must pay the entire sale price before the contract is finalized and the goods or services are delivered.
Definition of "Payment In Full" as a contract satisfaction
This definition connects "Payment In Full" to the satisfaction of the contract terms.
"Payment In Full" refers to the satisfaction of all payment terms under the contract, thereby fulfilling the contractual obligations of both parties.
Definition of "Payment In Full" as a breach prevention
This definition ties "Payment In Full" to the prevention of a breach of contract.
"Payment In Full" means all payment terms must be fulfilled to prevent a breach of the contract and avoid any legal consequences.
Definition of "Payment In Full" as a purchase completion
This definition links "Payment In Full" to the completion of a purchase transaction.
"Payment In Full" refers to the complete payment required to finalize the purchase, after which the transaction is complete.
Definition of "Payment In Full" as a transaction closure
This definition ties "Payment In Full" to the closure of a financial transaction.
"Payment In Full" means the full amount owed is paid, bringing closure to the transaction and ensuring all terms are met.
Definition of "Payment In Full" as an invoice settlement
This definition connects "Payment In Full" to the settlement of an invoice.
"Payment In Full" refers to the payment of the entire amount due on an invoice, satisfying the debtor's financial obligations.
Definition of "Payment In Full" as a compliance requirement
This definition links "Payment In Full" to the requirement for compliance with contractual terms.
"Payment In Full" refers to the full payment required to comply with the terms and conditions specified in the agreement.
Definition of "Payment In Full" as a financial clearance
This definition ties "Payment In Full" to the clearance of financial responsibilities.
"Payment In Full" means the complete payment of all financial obligations, clearing the way for the finalization of the agreement.
Definition of "Payment In Full" as an agreement closure
This definition connects "Payment In Full" to the final closure of an agreement.
"Payment In Full" refers to the complete and final payment that marks the closure of the agreement, ensuring no further obligations remain.
Definition of "Payment In Full" as a milestone completion
This definition applies "Payment In Full" to the completion of a milestone in a project or contract.
"Payment In Full" means the payment of the total amount upon the successful completion of the agreed milestone or project phase.
Definition of "Payment In Full" as a conditional release
This definition links "Payment In Full" to a conditional release in a contract.
"Payment In Full" refers to the condition that the full payment must be made for the release of goods, services, or other deliverables under the contract.
Definition of "Payment In Full" as an obligation fulfillment
This definition connects "Payment In Full" to the fulfillment of a contractual obligation.
"Payment In Full" means the complete payment of all amounts owed, fulfilling the financial obligations stipulated in the contract.
Definition of "Payment In Full" as a debt clearance
This definition ties "Payment In Full" to the clearance of debt obligations.
"Payment In Full" refers to the payment of the full amount owed, resulting in the clearance of any debt or financial obligation under the agreement.
Definition of "Payment In Full" as a loan conclusion
This definition ties "Payment In Full" to the conclusion of a loan repayment.
"Payment In Full" means the complete payment of all outstanding amounts due under the loan agreement, including interest, fees, and principal.
Definition of "Payment In Full" as a satisfaction condition
This definition connects "Payment In Full" to the condition for satisfying contract terms.
"Payment In Full" refers to the satisfaction of all outstanding balances required under the contract, ensuring that no further obligations remain for the payer.
Definition of "Payment In Full" as a vendor payment requirement
This definition applies "Payment In Full" to a vendor's requirement for releasing products or services.
"Payment In Full" means that the purchaser must pay the total agreed amount before the vendor is obligated to deliver the product or provide services.
Definition of "Payment In Full" as a condition for legal discharge
This definition links "Payment In Full" to the legal discharge of obligations.
"Payment In Full" refers to the full payment required to discharge any legal or financial obligations stipulated under this agreement.
Definition of "Payment In Full" as a precondition for closing
This definition ties "Payment In Full" to a precondition for closing a deal or transaction.
"Payment In Full" refers to the requirement that the total amount due must be paid in full before the transaction can be closed or finalized.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.