Overpaid

Overpayment - An overpayment occurs when a payer disburses more money than is owed to a recipient, which can happen in various contexts such as payroll, social benefits, or vendor payments. This typically necessitates corrective actions, including repayment or adjustment, to rectify the excess amount disbursed.

Class Information

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Identification

IRI: https://folio.openlegalstandard.org/R9QTWcwXG9FLUtwMaAvYfxl
Label (rdfs): Overpayment
Preferred Label: Overpaid
Alternative Labels: Excess Payment, Surplus Payment
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Definition and Examples

Definition: An overpayment occurs when a payer disburses more money than is owed to a recipient, which can happen in various contexts such as payroll, social benefits, or vendor payments. This typically necessitates corrective actions, including repayment or adjustment, to rectify the excess amount disbursed.
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Translations

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Class Relationships

Sub Class Of: Degree of Payment Completeness
Parent Class Of: N/A
Is Defined By: N/A
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Additional Information

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Deprecated: False

Metadata

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