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Example: Fee for 1 year = 12 dollars. Contract terminated after 6 months. The refund is $6; in other words you get back the money for those months you haven't used.

Pro-rated means a portion of the value is deducted based on age and or condition of the item you are returning. So what you get is not the full price paid for the item, only a portion of what you paid.

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14y ago

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Related Questions

If you cancel your home insurance which was fully paid do you get a refund on the remaining months?

Most insurance companies will refund any remaining policy time. It will be prorated. If your mortgage company paid it out of escrow funds, the refund may get sent to them.


What recourse do you have to collect the full amount when an extended warranty was put on a contract for a 1981 vehicle without your knowledge and the refund was prorated after you requested a refund?

Suggest you contact your local Better Business Bureau (BBB) and let them handle it. It's free and they'll know just what to do.


What does prorated mean?

For the sake of argument, let us say you are talking paying rent. If rent is $100 a month, and you move in half way into the month, the prorated payment would be half the rent - or $50. Does that answer your question ?


What is prorated leave?

Prorated leave is the leave you receive based on how long you have been with the organization.


What if Tenant decides not to move in 10 days after a lease was signed rent paid keys received is he entitled for a prorated or full refund or looses entire 1st month rent NY?

Yes, and the tenant might owe the next month as well.


How do you annualize prorated premium?

To annualize a prorated premium, you first determine the total premium for the full policy term and then divide it by the number of months covered by the prorated amount. Multiply the resulting monthly premium by 12 to convert it into an annual figure. This method gives you the equivalent annual premium based on the prorated amount, allowing for an accurate comparison with other policy options.


Is prorated one word or two?

15,000


What does refund mean?

It means to get your money back.


Can you return Minecraft?

If you mean get a refund its not possible.


How would a person calculate a prorated contract?

Calculate the amount of money you make per day, then multiply it with the amount of workdays you have completed and that should give you the prorated contract.


How do you spell prorated?

That is the correct spelling of the verb "prorate" (from pro rata),meaning to charge or distribute proportionately.


What does prorated first year based on mean?

"Prorated first year based on" typically refers to the calculation of a financial figure, such as a salary, fee, or benefit, that is adjusted to reflect only part of the year rather than the full annual amount. For example, if someone starts a job halfway through the year, their salary might be prorated based on the number of months they will actually be employed. This ensures that compensation or benefits are fairly allocated according to the actual time worked or the period of service.