Payment in kind refers to payment for goods In macroeconomics and accounting, a good is contrasted with a service. In this sense, a good is defined as a physical product, capable of being delivered to a purchaser and involves the transfer of ownership from seller to customer, say an apple, as opposed to an (intangible) service, say a haircut. A more general term that preserves the or services A service is the intangible equivalent of a good. Service provision is often an economic activity where the buyer does not generally, except by exclusive contract, obtain exclusive ownership of the thing purchased. The benefits of such a service, if priced, are held to be self-evident in the buyers willingness to pay for it. Public services are with a medium other than legal tender Legal tender or forced tender is an offered payment that, by law, cannot be refused in settlement of a debt, and have the debt remain in force. Currency is the most common form of legal tender (anything can be used as money, but legal tender is what the State accepts for all debts).
Etymology
“Kind” (or sometimes kine) in this context is an archaic noun meaning cattle Cattle are the most common type of large domesticated ungulates. They are a prominent modern member of the subfamily Bovinae, are the most widespread species of the genus Bos, and are most commonly classified collectively as Bos primigenius. Cattle are raised as livestock for meat (beef and veal), as dairy animals for milk and other dairy products,, from the Middle English Middle English is the name given by historical linguists to the diverse forms of the English language in use between the late 11th century and about 1470, when the Chancery Standard, a form of London-based English, began to become widespread, a process aided by the introduction of the printing press into England by William Caxton in the late 1470s word kyn. The term originates from a period in history when livestock Livestock refers to one or more domesticated animals raised in an agricultural setting to produce commodities such as food or fibre, or labor. The term "livestock" as used in this article does not include poultry or farmed fish; however the inclusion of these, especially poultry, within the meaning of "livestock" is common were a common means of exchange Trade is the voluntary exchange of goods, services, or both. Trade is also called commerce or transaction. A mechanism that allows trade is called a market. The original form of trade was barter, the direct exchange of goods and services. Later one side of the barter were the metals, precious metals , bill, paper money. Modern traders instead.[citation needed]
Finance
Main article: PIK loan A PIK Loan is a type of loan which typically does not provide for any cash flows from borrower to lender between the drawdown date and the maturity or refinancing date, not even interest or parts thereof , thus making it an expensive, high-risk financing instrument. PIK (payment in kind) is to be interpreted as interest accruing until maturity orIn modern finance Finance is the science of funds management. The general areas of finance are business finance, personal finance, and public finance. Finance includes saving money and often includes lending money. The field of finance deals with the concepts of time, money, and risk and how they are interrelated. It also deals with how money is spent and budgeted, when a bond In finance, a bond is a debt security, in which the authorized issuer owes the holders a debt and, depending on the terms of the bond, is obliged to pay interest and/or to repay the principal at a later date, termed maturity. A bond is a formal contract to repay borrowed money with interest at fixed intervals pays in kind (PIK), it means that the interest on the bond is paid other than in cash, most commonly by increasing the principal. When cattle was used as collateral any calf born would be kept by the lender as the payment, or better said, interest. This is how "in kind" became a term used in finance.
Categories: Bonds Categories: Fixed income securities | Interest bearing instruments | Government debt | English phrases Categories: English language | Rhetorical techniques | Words and phrases by language
Thu, 15 Jul 2010 04:32:44 GMT+00:00
Examiner.com The majority of interviewees stated that they or their family members paid unofficial and illegal in-kind goods or sums of money to health workers, ... Amnesty exposes North Korea's collapsing health system Radio Australia
