Business / Agriculture / Payment Limitation: The maximum annual amount of commodity program benefits a person can receive by law. Persons are defined under payment limitation regulations, established by USDA, to be individuals, members of joint operations, or entities such as limited partnerships, corporations, associations, trusts, and estates that are actively engaged in farming. The three entity rule limits the number of farms from which a person can receive program payments. The FAIR Act of 1996 sets payment limits at $40,000 per person per fiscal year on production flexibility contracts (down from $50,000 on target price deficiency payments). The limits of $75,000/person/year with respect to marketing assistance loan gains and loan deficiency payments for crops of contract commodities or oilseeds is maintained.
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Business / Agriculture / Payment-In-Kind (PIK): In general, a payment made in the form of CCC-owned commodities (or title to them) in lieu of cash. This form of payment was widely used during the 1980s for paid diversion, deficiency payments, and e MORE
Business / Internet Marketing / Payment Threshold: The minimum accumulated commission an affiliate must earn to trigger payment from an affiliate program. MORE
Business / Construction / Payment Schedule: A pre-agreed upon schedule of payments to a contractor usually based upon the amount of work completed. Such a schedule may include a deposit prior to the start of work. There may also be a temporary MORE