commutation
C2CEFR level
85/100Rarity: very rare
TechnicalRegister
Law noun
The substitution of a lesser penalty for the one originally imposed.
The commutation of his death sentence to life imprisonment followed a successful appeal for mercy.
Business noun
The final settlement of all future reinsurance obligations for a single lump-sum payment.
We struck a commutation with the reinsurer to take the long-tail claims off both our books at once.
Rarity runs from 0 (a word everyone knows) to 100 (almost never seen outside specialist or literary writing). Level is the word's real difficulty on the CEFR scale, from A1 to C2.
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