Examples of prorate in a sentence. 1  The player's annual salary was prorated because he only played for the last three months of the season. 2  shares in the company's profits were prorated according to the workers' length of service.
Can a utility company charge a late charge on a late charge that is carrying forward? They claim they apply the payment to the late charge first and then because the remaining balance doesn't match the total due, they continue to charge an additional late fee on the unpaid balance. Doesn't this amount to charging a late fee for an unpaid late fee no matter how they wash it through the billing?
Late Charges and Other Fees. The terms of most mortgages require a payment by a certain day of the month and include a grace period for the payment. If you fail to make a mortgage payment before the expiration of the grace period, your lender will assess a late fee. The amount of the late fee is set out in the promissory note you signed when you took out your mortgage. (Typically, the late fee is 5% of the overdue payment of principal and interest.)