Overage

Overage refers to an amount or quantity exceeding a specified or anticipated limit, requirement, or expectation. It can manifest in various contexts, from financial transactions and inventory management to age restrictions and contract fulfillment. The term implies an excess, surplus, or the act of going over and above a predefined boundary. This excess is typically unplanned or unintentional and can lead to adjustments, penalties, or unexpected benefits depending on the situation. It's often coupled with associated terms like 'shortage' in a contrasting context.

Overage meaning with examples

• The auditor discovered an Overage of $5,000 in the petty cash fund after a thorough reconciliation of expenses. This discrepancy prompted an investigation into potential errors in the daily reports or possible unauthorized withdrawals from the cash till.
• Due to a software glitch, the warehouse experienced an Overage in product shipments, sending a higher volume of items than customers actually ordered. This necessitated contacting the customer service to manage returns and ensure the correct invoicing.
• The policy on insurance allowed for an Overage of up to 10% above the initial estimate. Fortunately, the final cost ended up well below the projected costs so any Overage was not a problem.
• The contract stipulated a fuel usage allowance, but because of a navigation error, the delivery trucks experienced an Overage of fuel by nearly 15%. This resulted in charges to the driver and a revision to the route's logistical approach.
• The grocery store manager was puzzled to find a small Overage in the delivery of apples; they seemed to have received a couple of extra crates, but there were no related errors or associated invoices.