minimum payment a guaranteed sum of money given to an employee in payment for work, disregarding any fringe benefits, allowances, or extra rewards from an incentive scheme.
Related definitions of "basic pay"
- = base pay
There are two basic types of arbitration: ad hoc and institutional. Parties are free to choose between these two types in their arbitration agreement. If the parties fail to specify in their agreement which type of arbitration they prefer, the arbitration will be presumed to be ad hoc.
By Stavros Brekoulakis
credit rating agencies and lenders, potentially giving companies access to lower-cost capital in line with the lower risk. The adoption of IFRS can bring significant additional short-term costs to businesses, such as fees to pay specialist external accountants. As adjustments to comply with IFRS can make
“Many bright, literate people have no idea about all sorts of economic basics, of a type that financial insiders take as elementary facts about how the world works.”
Definitions of ’basic pay’ and meaning of ’basic pay’ are from the book publication, QFINANCE – The Ultimate Resource, © 2009 Bloomsbury Information Ltd. Find definitions for ’basic pay’ and other financial terms with our online QFINANCE Financial Dictionary.