overpay

overpay
overpay o‧ver‧pay [ˌəʊvəˈpeɪ ǁ ˌoʊvər-] verb overpaid PTandPP
1. [intransitive, transitive] HUMAN RESOURCES to pay someone more than they deserve or are owed:

• The effect of the tax change is that a lot of people will overpay and will then have to claim refunds.

overpay by

• The Pentagon claims the two defense firms were overpaid by more than $1.3 billion over the years.

— overpayment noun [uncountable] :

• alleged overpayment of taxes

• There has been an overpayment of $170,000 on this contract.

2. [intransitive] to pay too much for something in relation to its real value:
overpay for

• Did we overpay for the company? The price was probably on the high side.

* * *

overpay UK US /ˌəʊvəˈpeɪ/ verb (overpaying, overpaid, overpaid)
► [I or T] FINANCE, BANKING to make bigger payments than originally agreed when paying back a loan, in order to reduce the cost of the loan: »

If you budget to overpay your mortgage on a regular basis, you can save a lot of money.

 »

These loans allow you to overpay at any time.

 overpay on sth »

We use any spare money to overpay on our mortgage.

► [I or T] TAX, COMMERCE to pay more than is necessary or more than the value of something: »

Some part-time workers will overpay tax and will need to claim a rebate.

 overpay for sth »

He said they did not overpay for the land based on comparable sales in the area.

► [T often passive] HR, COMMERCE to pay someone too much: overpay sb by $50/10% etc »

I felt I should tell my boss she'd overpaid me by $100.

 overpay sb for sth »

He claimed the deal would overpay the company for its electrical transmission grid.

→ Compare UNDERPAY(Cf. ↑underpay)

Financial and business terms. 2012.

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Look at other dictionaries:

  • Overpay — O ver*pay , v. t. [imp. & p. p. {Overpaid}; p. pr. & vb. n. {Overpaying}.] 1. To pay too much to; to reward too highly. [1913 Webster] 2. To pay too much for; as, to overpay the loan balance. [PJC] …   The Collaborative International Dictionary of English

  • overpay — ► VERB (past and past part. overpaid) ▪ pay too much …   English terms dictionary

  • overpay — [ō΄vər pā′, ō′vər pā΄] vt., vi. overpaid, overpaying 1. to pay too much, or more than (the due amount) 2. to pay too much to (someone) overpayment n …   English World dictionary

  • overpay — [[t]o͟ʊvə(r)pe͟ɪ[/t]] overpays, overpaying, overpaid VERB If you overpay someone, or if you overpay for something, you pay more than is necessary or reasonable. → See also overpaid [V n to inf] Absurdly, the EC makes shoppers overpay farmers to… …   English dictionary

  • overpay — UK [ˌəʊvə(r)ˈpeɪ] / US [ˌoʊvərˈpeɪ] verb Word forms overpay : present tense I/you/we/they overpay he/she/it overpays present participle overpaying past tense overpaid UK [ˌəʊvə(r)ˈpeɪd] / US [ˌoʊvərˈpeɪd] past participle overpaid 1)… …   English dictionary

  • overpay — verb Overpay is used with these nouns as the object: ↑tax …   Collocations dictionary

  • overpay — o|ver|pay [ˌəuvəˈpeı US ˌouvər ] v past tense and past participle overpaid 1.) [T] to pay someone more money than they deserve ≠ ↑underpay ▪ Most big companies continue to overpay their top executives. 2.) [I and T] to pay too much money for… …   Dictionary of contemporary English

  • overpay — overpayment /oh veuhr pay meuhnt, oh veuhr pay meuhnt/, n. /oh veuhr pay /, v.t., overpaid, overpaying. 1. to pay more than (an amount due): I received a credit after overpaying the bill. 2. to pay (a person) in excess. [1595 1605; OVER + PAY1] * …   Universalium

  • overpay — verb /ˈovəɻpeɪ/ To pay too much. Ant: underpay …   Wiktionary

  • overpay — (Roget s IV) v. Syn. pay too much, pay excessively, overcompensate, overrecompense, over reward, over remunerate, overreimburse, overyield, overexceed, oversettle, pay the Devil*. Ant. deceive*, deprive, cheat …   English dictionary for students

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