final payment

USAGE SUMMARY

"final payment" is a correct and common phrase in written English.
It is used to refer to the last amount of money that is owed or paid in a series of payments. Example: The construction company requested the final payment for the completed project to be made by the end of the month.

✓ Grammatically correct

News & Media

Academia

Wiki

Science

Formal & Business

Human-verified examples from authoritative sources

Exact Expressions

60 human-written examples

Finally, do not make a final payment until you are satisfied.

WikiHow

(c VA action on final payment request.

Cornell University

I actually cried when I made that final payment.

The New York Times

A final payment is made after the job is completed.

The New York Times

The final payment will not be made until 2048.

The Guardian

(d Failure to submit a final payment request.

Cornell University

Since our final payment was tied to delivery, this could lead to cash flow problems.

The New York Times

It added it has pledged assets to GM as security for the final payment.

The New York Times

He said they made a final payment of $9,524 on Thursday.

The New York Times

Their services include sending out intimidating letters "requesting full and final payment before the month's out".

Independent

The Browns made their final payment on the camper earlier this year.

The New York Times - Sports

Expert writing Tips

Best practice

When dealing with contractors, always specify a clear payment schedule with the "final payment" contingent on satisfactory completion of the work. This ensures accountability and quality.

Common error

Avoid making the "final payment" before thoroughly inspecting the goods or services. Once the last payment is made, resolving any outstanding issues can become significantly more challenging.

Linguistic Context

The phrase "final payment" functions as a noun phrase, typically acting as the object of a verb or preposition. Ludwig examples show it referencing the concluding transaction in a series of payments, as confirmed by Ludwig AI.

Expression frequency: Very common

Frequent in

News & Media

40%

Academia

20%

Formal & Business

15%

Less common in

Wiki

10%

Science

10%

Reference

5%

Ludwig's WRAP-UP

The phrase "final payment" is a commonly used noun phrase that signifies the last transaction in a series of payments, often completing a financial obligation. As Ludwig AI states, the phrase is correct and commonly used. It appears across various contexts, including news, academia, and business, with a neutral to professional register. When using "final payment", it's crucial to ensure all contractual obligations are met before disbursement, as rectifying issues afterward can be challenging. Consider alternatives like "last payment" or "full and final settlement" depending on the desired tone and context.

More alternative expressions

Phrases that express similar concepts, ordered by semantic similarity:

last payment

Emphasizes the temporal aspect of being the concluding payment.

full and final settlement

Emphasizes that the payment completely resolves all outstanding obligations.

final installment

Specifically refers to the last payment in a series of scheduled payments.

terminal payment

Highlights that this payment concludes the series.

ultimate payment

Focuses on the finality and decisiveness of the payment.

closing payment

Suggests the payment is associated with closing an account or transaction.

balance due

Highlights the remaining amount to be paid to complete a transaction.

settlement payment

Implies a payment that resolves a debt or dispute.

total remittance

Indicates the entire amount of money sent to fulfill an obligation.

discharge of debt

Highlights the act of clearing a debt obligation through a final payment.

FAQs

How is "final payment" typically used in a sentence?

The phrase "final payment" is used to refer to the last installment in a series of payments. For example, "The contractor will receive the "final payment" upon completion of the project".

What are some alternatives to saying "final payment"?

You can use alternatives such as "last payment", "terminal payment", or "full and final settlement" depending on the context.

What should I ensure before making a "final payment" to a contractor?

Before making the "final payment", ensure that all work is completed to your satisfaction and any agreed-upon corrections have been made. Review the contract and document everything in writing.

Is it better to use "final payment" or "last payment"?

Both "final payment" and "last payment" are acceptable, but "final payment" often carries a more formal tone, particularly in legal or business contexts. The choice depends on the specific situation and desired level of formality.