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Provision vs Settlement - What's the difference?

provision | settlement |

As nouns the difference between provision and settlement

is that provision is provision while settlement is the state of being settled.

provision

English

Noun

(en noun)
  • An item of goods or supplies, especially food, obtained for future use.
  • * Francis Bacon
  • making provision for the relief of strangers
  • * Milton
  • And of provisions laid in large, / For man and beast.
  • The act of providing, or making previous preparation.
  • (Shakespeare)
  • Money set aside for a future event.
  • (accounting) A liability or contra account to recognise likely future adverse events associated with current transactions.
  • We increased our provision for bad debts on credit sales going into the recession.
  • (legal) A clause in a legal instrument, a law, etc., providing for a particular matter; stipulation; proviso.
  • An arrest shall be made in accordance with the provisions of this Act.
  • (Roman Catholic) Regular induction into a benefice, comprehending nomination, collation, and installation.
  • (UK, historical) A nomination by the pope to a benefice before it became vacant, depriving the patron of his right of presentation.
  • (Blackstone)

    Verb

    (en verb)
  • To supply with provisions.
  • Synonyms

    * supply * victual

    settlement

    English

    Noun

    (en noun)
  • The state of being settled.
  • A colony that is newly established; a place or region newly settled.
  • A community of people living together, such as a hamlet, village, town, or city.
  • (architecture) The gradual sinking of a building. Fractures or dislocations caused by settlement.
  • (finance) The delivery of goods by the seller and payment for them by the buyer, under a previously agreed trade or transaction or contract entered into.
  • (legal) A disposition of property, or the act of granting it.
  • (legal) A settled place of abode; residence; a right growing out of legal residence.
  • (legal) A resolution of a dispute.
  • Synonyms

    * (A resolution of a dispute) arrangement

    Hyponyms

    * See also

    Derived terms

    * settlement agreement