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 insurance firm refused to pay her claim, they did offer her a goodwill payment 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)