commutation
A term to know.
A swap of one type of payment for another, or a pre-payment of monies due, usually on a discounted basis taking into account the time-value of money; for example, the swap of an annuity for a lump sum payout.
Synonyms:
commutations, commute, commutes
Synonyms list
(a comma-separated list)
commutations, commute, commutes