Describe the meaning of an excess payment​

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Question:

describe the meaning of an excess payment​

Answers

Answer:Related DefinitionsExcess Payment means, with respect to a Receivable and a Collection Period, the amount, if any, by which the Actual Payment exceeds the sum of (i) the Scheduled Payment and (ii) any Overdue Payment.

Answer:an excess payment is the amount you need to pay before the insurance company will pay the panel beater that fixes your car

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