Sudha (Sr Manager HR/Admin) (28 Points)
26 June 2013
Rama chary Rachakonda
(Master in Accounts & Lawyer email ID:ramachary64@gmail.com voice no:9989324294)
(5273 Points)
Replied 06 July 2013
A sum of money paid when there was no obligation or liability to pay it. For example, a lump sum payment over and above the pension benefits of a retiring employee. In insurance claims, it may take the form of payment for which the insurer did not appear to be liable. Ex gratia is Latin for "out of goodwilll." Also called ex gratia settlement.