quarterage
/ˈkwɔːt(ə)rɪdʒ
/noun archaic
A sum paid or received quarterly.This lease not only provided Sidebottom with a quarterage on the amount of coal extracted, but also brought the considerable sum of a L50 yearly rent fee and other rents....
- This percentage was the traditional ‘quarterage.’
- However, it is a matter of regret that 25 members have still not paid their quarterage which was due in October, a shortfall of over £4,300 in income.
