Process of the gradual retirement of an outstanding debt by making periodic payments over a stated period of time.
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UK: Periodical reduction in the value of a lease or other time-related asset until the asset is written down to nil. In insurance it is the ability to match the cost of cover to the actuarial probability of risk over time. Pension scheme actuaries spread an actuarial surplus or actuarial deficiency over an appropriate period.
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Writing off part of the value of an asset in a company’s books at intervals until the value of an asset is extinguished.