goodwill payment Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “goodwill payment” in the English Dictionary

"goodwill payment" in Business English

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goodwill paymentnoun [C]

uk   us  
COMMERCE a ​payment made by a ​company to a ​customer who has ​experienced a problem with its ​products in ​order to ​try to ​keep the ​customer: Although the ​insurancefirmrefused to ​pay her ​claim, they did ​offer her a ​goodwillpayment of £5,000.
ACCOUNTING a ​payment made by someone ​buying a ​business for things that cannot be directly ​measured, for ​example, ​customers' ​loyalty
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(Definition of goodwill payment from the Cambridge Business English Dictionary © Cambridge University Press)
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“goodwill payment” in Business English

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