Definition of Residual payment:
A payment or stream of payments that is received after a good or service is provided. Residual payments are most often associated with the entertainment industry, since movies and music can generate revenues long after they are originally released. For example, a musician might receive a residual payment for a song released many years ago if a recent movie includes the music on its soundtrack. Also called residual.
Meaning of Residual payment & Residual payment Definition