"Proration" Pronounce,Meaning And Examples
"Proration" Natural Recordings by Native Speakers
"Proration" Meaning
Proration refers to the process or practice of allocating a share or portion of something, often in a proportional or equal manner, usually in time or at an average rate, especially in a situation where a whole is divided into parts according to their respective interests or needs.
In business, proration is often used in areas such as taxation, rating, or pricing to allocate costs or payments fairly among parties. It is also used to adjust payments or portions in situations where there is an incomplete or irregular period.
For example, in tax proration, a person may prorate their property taxes if they sell a property part-way through the tax year, to reflect the pro rata share of the tax they have paid or will have to pay for the period of ownership.
In other contexts, proration means dividing something in proportion to the length of time it is used or enjoyed.
"Proration" Examples
Usage Examples for "Proration"
1. Business: The company will prorate the rent for the remaining three months when the lease ends.
2. Finance: After switching service providers, the new company will prorate the monthly fee based on the number of days used so far.
3. Real Estate: When selling a property, the proration of property taxes and insurance will be adjusted for the seller based on the closing date.
4. Airport Fees: All airport fees will be prorated based on the actual time the flight is delayed, so travelers won't be charged full rates.
5. Health Insurance: The health insurance will prorate the premium based on the number of remaining days in the coverage period after the subscriber's new employer takes over.
"Proration" Similar Words
Propylon
Propylparaben
Propylthiouracil
Propyzamide
Prorate
Prorated
Prorates
To distribute or divide something in proportion to the amount used or the period of time, especially in relation to a particular service or expense; to share or charge something according to certain rules or qualifications.<br><br>Example: The school prorated the bus fare for the students, so those who rode for only half the semester only paid half price.
Prorating
Prorations
Prorations refer to a partial refund or partial payment of a fee or installment, especially in cases where an individual or entity is leaving a service, such as a lease or a contract, before their expected end date. The proration process involves calculating the proportion of the fee that is due based on the amount of time remaining until the end of the agreement. In other words, if you leave a service 6 months into a 12-month agreement, you would only pay for the 6 months you used the service, rather than the full 12 months.
Prore
"Prore" is likely a misspelling or a non-standard term. However, a possible word that comes close in meaning is "fore".<br><br>Fore can be used as an adverb or a noun. As an adverb, it is an old-fashioned way of saying "forward" or in front of something. For example: "move fore and back" or "the fore of the boat".<br><br>As a noun, "fore" can be used to refer to the front of a ship, a car, or the nose of an aircraft.
Prorectorate
Prorhinal
Prorogation
Prorogation is the act or practice of extending or suspending the period for which a legislative body, such as a parliament or legislature, is in session beyond its normal dissolution date. It is often used to delay or postpone legislative proceedings, elections, or the start of a new session.<br><br>In other words, prorogation is a parliamentary procedure that allows a government to temporarily suspend or end a legislative session without dissolving the parliament or calling an election. It is typically used in times of crisis, when a governing party needs more time to address a pressing issue or manage a crisis, or when the parliament is unable to pass laws due to disagreements or gridlock.<br><br>During prorogation, the government retains power, but legislative business is suspended, and the parliament is effectively "Adjourned sine die", meaning "without day", meaning that there is no fixed date for the parliament to reconvene. The specific purpose and effect of prorogation vary depending on the country and context in which it is used.
Prorogue
Prorogued
To prorogue means to postpone or adjourn a meeting, session, or period of time, often temporarily. It can also refer to the act of a government dissolving or suspending the legislative process for a specific period of time.