Provision vs Settlement - What's the difference?
provision | settlement |
An item of goods or supplies, especially food, obtained for future use.
* Francis Bacon
* Milton
The act of providing, or making previous preparation.
Money set aside for a future event.
(accounting) A liability or contra account to recognise likely future adverse events associated with current transactions.
(legal) A clause in a legal instrument, a law, etc., providing for a particular matter; stipulation; proviso.
(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.
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.
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)- making provision for the relief of strangers
- And of provisions laid in large, / For man and beast.
- (Shakespeare)
- We increased our provision for bad debts on credit sales going into the recession.
- An arrest shall be made in accordance with the provisions of this Act.
- (Blackstone)