Definition, Meaning & Synonyms

cash-in-lieu

noun

kæʃ ɪn luː

Definition

A payment made in cash instead of providing a good or service, often used in context related to settlements or exchanges.

Examples

If you choose not to take the vacation days, you may receive cash-in-lieu as part of your compensation.
The contract offered a cash-in-lieu option for employees instead of stock options.
In the event of a property exchange, a cash-in-lieu payment may be necessary to balance the transaction.

Meaning

The term refers to substituting cash for something that would normally involve a physical item or benefits, frequently applicable in financial transactions and agreements.