goodwill payment Meaning in the Cambridge English Dictionary Cambridge dictionaries logo

Meaning of “goodwill payment” in the English Dictionary

"goodwill payment" in Business English

See all translations

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
See also
(Definition of goodwill payment from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of goodwill payment?
Add Cambridge dictionaries to your browser to your website

“goodwill payment” in Business English

Word of the Day


a musical instrument, especially one made from a skin stretched over the end of a hollow tube or bowl, played by hitting with the hand or a stick

Word of the Day

I used to work hard/I’m used to working hard (Phrases with ‘used to’)
I used to work hard/I’m used to working hard (Phrases with ‘used to’)
by Kate Woodford,
February 10, 2016
On this blog, we like to look at words and phrases in the English language that learners often have difficulty with. Two phrases that can be confused are ‘used to do something’ and ‘be used to something/doing something’. People often use one phrase when they mean the other, or they use the wrong

Read More 

farecasting noun
farecasting noun
February 08, 2016
predicting the optimum date to buy a plane ticket, especially on a website or using an app A handful of new and updated websites and apps are trying to perfect the art of what’s known as farecasting – predicting the best date to buy a ticket.

Read More