Meaning ofcompensationin English

Noun

1. payment for work or loss (in cash, etc.)
   The company provided compensation to the employee for overtime work.
2. something that makes up for a loss
   The beautiful view was a nice compensation for the long hike.
3. the act of making something right
   The company offered compensation to the customers for the delayed flight.
4. offsetting debts through reciprocal credits; canceling equal amounts
   The bank used compensation to settle the accounts between the two businesses.
5. an agreed-upon equivalent in real estate contracts
   The buyer and seller negotiated the compensation for the property.