reimbursement
Payment returned to someone who spent their own money on behalf of another party
Examples
In a meeting
“Submit your receipts by Friday for reimbursement of conference expenses.”
Over coffee
“I'm still waiting for reimbursement from my roommate for the groceries I bought.”
Why this word
repayment
reimbursement specifically means refunding expenses paid on behalf of another, while repayment is returning borrowed money
refund
reimbursement is for compensating outlays made, while refund is returning payment for returned goods
compensation
reimbursement is exact repayment of documented expenses, while compensation is broader payment for loss or service
Usage tip
Use specifically for formal repayment of documented expenses, not casual IOUs between friends.
Etymology
Old French: 're-' (back) + 'embourser' (put in purse), from 'bourse' (purse)
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Related words
fiduciary
Involving trust and confidence in managing affairs or assets for another
broach
To bring up or introduce a topic for discussion
streamline
To make a process or system more efficient by simplifying or eliminating unnecessary steps.
delegate
To assign a task or responsibility to someone else.
validate
To confirm that something is correct, sound, or meets requirements.
concise
Giving a lot of information clearly in few words.