In political science and economics, a transfer payment is a payment of money from a government or any other organization to an individual, a group or another order of government for which no good or service is directly required in return. In economics, government transfer payments are often thought of as a negative tax, since in the case of a tax, people pay the government without getting any good or service in direct exchange. Political science is a social science discipline that deals with the theory and practice of politics and the description and analysis of political systems and political behavior. ... U.S. Economic Calendar Economics at the Open Directory Project Economics textbooks on Wikibooks The Economists Economics A-Z Institutions and organizations Bureau of Labor Statistics - from the American Labor Department Center for Economic and Policy Research (USA) National Bureau of Economic Research (USA) - Economics material from the organization...
In Canada, transfer payments usually refer more specifically to a system of payments from the federal government to the provinces. Major Canadian transfer payments include equalization payments, the Canada Health Transfer and the Canada Social Transfer (formerly the Canada Health and Social Transfer) and Territorial Formula Financing. Equalization payments are cash transfer payments by the federal government of Canada to less wealthy Canadian provinces to equalize the provinces fiscal capacity — their ability to deliver government services. ... The Canada Health and Social Transfer (CHST) was a system of block transfer payments from the Canadian federal government to provincial governments to pay for health care, post_secondary education and welfare, in place from the 1996-97 fiscal year until the 2004-05 fiscal year. ...
Other examples of transfer payments might include welfare or scholarships. Welfare has four main meanings. ... A scholarship is an award of access to an institution and/or a financial aid award for an individual (a scholar) for the purposes of furthering their education. ...
External links
Department of Finance (Canada): Federal Transfers to Provinces and Territories
In most financial institutions, funds transferpayment order volume does not justify the costs associated with a full time staff, and the sending and receiving of payment orders may be a part-time responsibility for one or more people.
Payment orders can be received from several different sources including business areas within the financial institution, as well as from corporate and individual customers.
Payment order verification is an important safeguard, and institutions should, at a minimum, keep accurate records of all payment order requests, including those initiated by telephone.
Payment to the receiving participant over Fedwire is final and irrevocable when the amount of the payment order is credited to the receiving participant's account or when the payment order is sent to the receiving participant, whichever is earlier.
The payment from the originator to the beneficiary should not be affected by the insolvency of an institution unless the institution is the originator and a court finds the payment void as a fraudulent conveyance, unlawful preference, or some similar inequitable conduct.
Payment to the receiving participant over Fedwire is final and irrevocable upon the crediting of the receiving participant's account, or when the payment order is sent to the receiving participant, whichever is earlier.
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