If a contract is terminated and the player is owed less than $250K, how will the player be paid?

Study for the NBA Agent Exam. Prepare with flashcards and multiple choice questions, each with hints and explanations. Get ready for your exam!

When a contract is terminated and the player is owed less than $250K, the correct method of payment is in accordance with a semi-monthly payment schedule. This approach aligns with the standard practice outlined in the NBA's collective bargaining agreement, which stipulates that for amounts owed below a certain threshold, the payments are typically distributed across a schedule rather than in a lump sum. This structure ensures that players receive their due compensation in a manageable and timely manner, thus maintaining consistency with regular payment practices established during the player's contract term.

The other methods of payment, while possible in different circumstances, do not apply under this specific condition where the owed amount is less than $250K. For instance, lump sum payments are usually reserved for larger settlements or ongoing contracts with significant payouts. Weekly installments or one-time bonuses would also not fit the standard payment structure prescribed for lower amounts in this context.

Subscribe

Get the latest from Examzify

You can unsubscribe at any time. Read our privacy policy