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Definitions from WordNet

Definitions from the Web

Term: overpayment

Definition:

An overpayment refers to an excess or surplus amount of money paid beyond what is expected, owed, or necessary for a particular transaction, service, or debt.

Senses:

1. Noun: The act or instance of paying an amount greater than what is required or deserved.

2. Noun: The extra or surplus amount of money paid as compared to the actual cost or value.

3. Noun: The state or condition of having paid more than the owed balance.

Examples:

1. As a noun:

- The customer received a refund for the overpayment he made on his purchase.

- The overpayment of taxes led to a significant increase in the taxpayer's refund.

- The company acknowledged the overpayment and issued a credit note for the excess amount.

2. As a verb:

- Jane accidentally overpaid the bill by $50, resulting in an overpayment that needed to be corrected.

- After realizing the error, the customer contacted the support team to rectify the overpayment.

- The debtor promised to reimburse the creditor for the overpayment as soon as possible.

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