When early settlement of an agreement is being contemplated, a figure will be requested by either the customer or a ealer/supplier on the customer's behalf. This figure comprises two different amounts: 1) the settlement figure where there is no new business being entered into with the customer 2) the settlement figure where new business is being entered into ‑ known as an upgrade figure. Settlement figure quotations are only valid for up to ten days from the date of quotation. See also Rule of 78'.
This is a sum needed to settle a lease. It can be added into the invoice value for a new Agreement and the rentals are then calculated on the new Agreement value plus the settlement figure. This settlement figure is paid either by the lessee or the vendor to the original lessor.
The term used for the final sum requested by a lender to clear an existing loan.