restitution

Definitions

Banking

Construction

  • A court-ordered money award that is intended to restore the parties to their financial position as it existed before the contract was formed.

Forex

  • The act of compensating a harmed party suitably for the damages they have sustained. Forex brokers or account managers convicted of fraud usually need to make some valid form of restitution to clients who have suffered losses as a result of doing business with them that arise from the fraud.

Law

  • noun the return of property which has been illegally obtained

Politics

  • noun payment for damage or loss to the people who have suffered as the result of an action for which you are responsible
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