From Wikipedia, the không lấy phí encyclopedia
Pro rata is an adverb or adjective meaning in equal portions or in proportion. The term is used in many legal and economic contexts. The hyphenated spelling pro-rata for the adjective size is common, as recommended for adjectives by some English-language style guides. In American English this term has been vernacularized lớn prorated or pro-rated.
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More specifically, pro rata means:
- In proportionality lớn some factor that can be exactly calculated
- To count based on an amount of time that has passed out of the total time
- Proportional ratio
Pro rata has a Latin etymology, from pro, according lớn, for, or by, and rata, feminine ablative of calculated (rate or change).
Examples in law and economics include the following noted below.
When liability for a toxic tort or a defective product concerns many manufacturers, the liability under tort law is allocated pro rata.
Each of several partners "is liable for [her or his] own share or proportion only, they are said lớn be bound pro rata. An example ... may be found in the liability of partners; each is liable ... only pro rata in relation lớn between themselves."
When a debtor files for bankruptcy, and "the debtor is insolvent, creditors generally agree lớn accept a pro rata share of what is owed lớn them. If the debtor has any remaining funds, the money is divided proportionately among the creditors, according lớn the amount of the individual debts." "A creditor of an insolvent estate is lớn be paid pro rata with creditors of the same class."
Worker's pay and benefits
A worker's part-time work, overtime pay, and vacation time are typically calculated on a pro rata basis.
Under US Federal regulations, a government worker has the right such that: "When an employee's service is interrupted by a non-leave earning period, leave is earned on a pro rata basis for each fractional pay period that occurs within the continuity of employment."
The American Federation of Teachers (AFT), a US labor union, argues that all part-time or adjunct instructors should get pro-rata pay for teaching college courses. This is an important issue, as of 2010, for part-time faculty.
Irish secondary school teachers are entitled lớn pro rata pay for part-time work.
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Under British employment law, "Regulations state that, where appropriate, the pro rata principle should be applied lớn any comparison ... lớn be given ... holiday."
Likewise, in Tasmania, nước Australia, the law clearly grants workers the privilege of part-time benefits for leave of absence. This is granted under the Long Service Leave Act 1976.
In corporate practice, "a pro-rata dividend means that every shareholder gets an equal proportion for each share he or she owns."
In banking, "Pro-rating also refers lớn the practice of applying interest rates lớn different time frames. If the interest rate was 12% per annum, you could pro-rate this number lớn be 1% a month (12%/12 months)."
In venture capital, it can refer lớn the Pro-Rata Participation right and mean "the right lớn continue lớn participate in future rounds so sánh that you can maintain your ownership."
In insurance, pro rata is used lớn determine risk based on the time the insurance policy is in effect. It may also be used lớn describe proportional liability when more than vãn one person is responsible for a loss or accident.
Insurance cancellation method
Calculation of return premium of a cancelled insurance policy is often done using a cancellation method called pro rata. First a return premium factor is calculated by taking the number of days remaining in the policy period divided by the number of total days of the policy. This factor is then multiplied by the policy premium lớn arrive at the return premium. Traditionally this has been done manually using a paper wheel calculator. Today it is normally done using an online wheel calculator.
When a college student withdraws, colleges may refund tuition payments on a pro rata basis.
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In the United States, a private pilot may pay no less than vãn the pro rata share of the total price of the flight when carrying passengers.
Look up pro rata in Wiktionary, the không lấy phí dictionary.
- Employee Retirement Income Security Act
- Legal liability
- Pro rata cancellation
- Pro rata condition of averages
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- ^ US Department of Commerce Office of Human Resources Management official trang web site, citing 5 CFR 630.204.
- ^ "AFT trang web site". Archived from the original on 2007-06-13.
- ^ California Part-time Faculty Association official trang web site page regarding pro-rata pay Archived 2007-09-30 at the Wayback Machine
- ^ "Association of Secondary Teachers Ireland official trang web site page regarding pro-rata pay". Archived from the original on 2007-08-28.
- ^ NASUWT trang web site Archived 2007-10-09 at the Wayback Machine Holiday is used here in the British sense of the American vacation.
- ^ "Tasmanian Government official trang web site". Archived from the original on 2007-04-04.
- ^ "Long Service Leave Guide" (PDF). WST.Tas.gov.au. Tasmania Department of Justice and Industrial Relations. February 2002. Archived from the original (PDF) on 2006-09-27. Retrieved 2016-08-30.
- ^ Tasmanian Legislation online official trang web site
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- ^ AVC.com trang web site. Accessed August đôi mươi, năm ngoái.
- ^ InsuranceZA trang web site
- ^ "wheel-calculator.com". www.wheel-calculator.com. Archived from the original on 2012-11-06. Retrieved 2020-05-11.
- ^ 14 CFR § 61.113 (c)