- accelerated receipt
A percentage reduction in the amount of compensation paid to an individual on termination of employment to reflect the fact that payment is received in one lump sum rather than over the whole notice period. The amount of the percentage reduction is commonly 50% of the current annual interest rate or half of the annual official court interest rate.
Practical Law Dictionary. Glossary of UK, US and international legal terms. www.practicallaw.com. 2010.
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