Compensation Fund
/ˌkɒmpənˈseɪʃən fʌnd/
Definitions
- (n.) A specially established fund to provide monetary relief or recompense to individuals or entities, often victims or claimants, under statutory or contractual provisions.
The victims received payments from the state's compensation fund after the industrial accident.
Forms
- compensation fund
- compensation funds
Related terms
See also
Commentary
Compensation funds are commonly established by legislation or court orders to administratively handle claims without lengthy litigation. Drafts should clarify eligibility criteria and funding sources.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.