Rata

What does 'pro rata' mean in an agreement?

What does 'pro rata' mean in an agreement?

It essentially translates to "in proportion," which means a process where whatever is being allocated will be distributed in equal portions. If something is given out to people on a pro rata basis, it means assigning an amount to one person according to their share of the whole.

  1. What does pro rata mean in simple terms?
  2. What is an example of pro rata?
  3. What does pro rata payment mean?
  4. What does pro rata mean UK?

What does pro rata mean in simple terms?

Pro rata is short for 'proportional', which is 'in proportion to' or 'a portion of' an overall value. Within an employment setting, job applicants may come across 'pro rata pay' when applying for a new role.

What is an example of pro rata?

For example, if someone buys an insurance policy that's quoted at a certain price for a full year of coverage, but that person only signs on for half a year's worth of coverage, they would pay the insurance company on a pro rata basis that would come out to half the value of the full policy.

What does pro rata payment mean?

In a nutshell, a pro rata salary is an amount you pay a part-time salaried employee if they worked full-time.

What does pro rata mean UK?

Pro-rata salaries are calculated according to what percentage of a full-time job your hours make up if you work part time [ie less than full-time hours]. For example, if you work two days a week and a full-time person in your position gets £18,000. You will get two fifths of that for a pro rata salary.

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