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TeachMeFinance.com - explain Payment-in-kind (PIK) Payment-in-kind (PIK) The term 'Payment-in-kind (PIK) ' as it applies to the area of agriculture can be defined as ' In general, a payment made in the form of CCC-owned commodities (or title to them) in lieu of cash. This form of payment was widely used during the 1980s for paid diversion, deficiency payments, and export subsidy payments as a means of disposing of or avoiding the acquisition of commodity inventories. PIK certificates entitled the holder to a specific quantity of commodities'. Previous 5 Terms: Payment limitation Payment method for utilities Payment quantity Payment Rate Payment Safeguards Next 5 Terms: Payments in lieu of taxes (PILT) Payroll Taxes PBIS PBL PBR About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005-2011 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.