"Prorations" Natural Recordings by Native Speakers
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.