Pro-rata means to divide proportionally. It is used to describe a proportionate allocation. It denotes an equal amount according to the fraction held by each. It is a phrase that indicates the act of division made considering various factors like rate, percentage or share. It is a Latin term meaning proportionally; for a proportion.
This term is often used in the legal contexts. The legal meaning of this word the act of designating the system of distributing assets of an estate in equal proportion among all members of the same class of beneficiaries. It is done according to a rate in which each participant's share is in proportion to the part of the whole owned or claimed by the participant.
This term is often used in the legal contexts. The legal meaning of this word the act of designating the system of distributing assets of an estate in equal proportion among all members of the same class of beneficiaries. It is done according to a rate in which each participant's share is in proportion to the part of the whole owned or claimed by the participant.