noun a Latin term meaning 'in proportion'
adverb used to describe something being distributed or done in proportion to the share of each individual involved
In real estate, 'pro rata' is used to determine the proportional share of expenses or income that each party is responsible for.
In finance, 'pro rata' is used to describe a proportionate allocation of a financial obligation or benefit based on a certain criteria.
In business, 'pro rata' can be used to determine the proportional distribution of resources or profits among stakeholders.
In legal contexts, 'pro rata' may be used to describe the fair division of assets or liabilities among parties.
In insurance, 'pro rata' is used to calculate refunds or adjustments based on the amount of time remaining on a policy.
In the publishing industry, writers may be paid a pro rata fee based on the length of the article or book they write.
Psychologists may use pro rata calculations when determining fees for services provided on a per session basis.
Accountants may use pro rata calculations when distributing costs or revenues over a specific time period.
Lawyers may use pro rata calculations when billing clients for partial services rendered.
Consultants may use pro rata calculations when determining project fees based on the amount of time spent on each task.