👉 "Exactions" is a term that refers to actions or responsibilities taken by individuals in exchange for benefits. These can include financial payments, property, services, time, effort, or other forms of compensation. For example, if an individual receives a salary from their employer, they are performing an "exaction" by contributing to the company's budget and ensuring its profitability. Similarly, if someone volunteers their time or skills for free, they are also performing an "exaction" by providing valuable assistance
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What is the definition of Exaction? 🙋
👉 Exaction is a type of financial transaction where a party pays a third party an amount in exchange for goods or services. This can be in the form of money, service, or other tangible property. Exactions are often used to settle debts and obligations between parties, as well as to facilitate payments for goods or services provided by others.
