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Settlement vs Payment - What's the difference?

settlement | payment |

As nouns the difference between settlement and payment

is that settlement is the state of being settled while payment is the act of paying.

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

    payment

    English

    Noun

  • (uncountable) The act of paying.
  • (countable) A sum of money paid in exchange for goods or services.
  • * , chapter=7
  • , title= The Mirror and the Lamp , passage=“[…] This is Mr. Churchill, who, as you are aware, is good enough to come to us for his diaconate, and, as we hope, for much longer; and being a gentleman of independent means, he declines to take any payment .” Saying this Walden rubbed his hands together and smiled contentedly.}}

    Synonyms

    *

    Derived terms

    * down payment * grease payment * lubrication payment * payment in kind