different between payment vs compensation

English

Etymology

From Old French paiement. Equivalent to pay +? -ment.

Pronunciation

• enPR: p??m?nt, IPA^(key): /?pe?m?nt/
• Hyphenation: pay?ment

Noun

payment (countable and uncountable, plural payments)

1. (uncountable) The act of paying.
2. (countable) A sum of money paid in exchange for goods or services.

See also

• scot

Derived terms

Translations

Further reading

• payment on Wikipedia.Wikipedia

English

Etymology

Borrowed from Old French compensacion, from Latin compens?ti?nem, accusative singular of compens?ti?.

Pronunciation

• IPA^(key): /?k?mp?n?se???n/

• Rhymes: -e???n

Noun

compensation (countable and uncountable, plural compensations)

1. The act or principle of compensating.

   Synonym: restitution

2. Something which is regarded as an equivalent; something which compensates for loss.

   Synonyms: amends, remuneration, recompense

   • 1827, Henry Hallam, The Constitutional History of England

     The parliament which dissolved the monastic foundations […] vouchsafed not a word toward securing the slightest compensation to the dispossessed owners.

   • 1796, Edmund Burke, a letter to a noble lord

     No pecuniary compensation can possibly reward them.

3. (finance) The extinction of debts of which two persons are reciprocally debtors by the credits of which they are reciprocally creditors; the payment of a debt by a credit of equal amount.

   Synonym: set-off

4. A recompense or reward for service.

   Synonym: restitution

5. (real estate) An equivalent stipulated for in contracts for the sale of real estate, in which it is customary to provide that errors in description, etc., shall not avoid, but shall be the subject of compensation.
6. The relationship between air temperature outside a building and a calculated target temperature for provision of air or water to contained rooms or spaces for the purpose of efficient heating. In building control systems, the compensation curve is defined to a compensator for this purpose.
7. (neuroscience) The ability of one part of the brain to overfunction in order to take over the function of a damaged part (e.g. following a stroke).

   Coordinate term: degeneracy

Derived terms

Related terms

• compensate

Translations

Anagrams

• camponotines, companion set

French

Etymology

Borrowed from Latin comp?ns?ti?, comp?ns?ti?nem.

Pronunciation

• IPA^(key): /k??.p??.sa.sj??/

Noun

compensation f (plural compensations)

1. compensation

Related terms

• compenser