Proration
/proʊˈreɪʃən/
Definitions
- (n.) The division or allocation of money, expenses, or benefits proportionally, typically based on time or usage.
The landlord applied proration to adjust the rent for the partial month.
- (n.) The proportional adjustment of insurance premiums or claims according to the period of coverage.
The insurance company calculated proration to refund the unused portion of the policy.
Forms
- proration
- prorations
Related terms
See also
Commentary
Proration is commonly used in contracts, leases, insurance, and tax contexts to ensure fair, proportional distribution or calculation based on time or other factors.
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.