Payload

1) Term for the load carried by a vehicle - in haulage the capacity of vehicle to carry a paying load (in terms of weight or volume - cubic capacity). A similar scenario applies in passenger transport where the payload is the number of seats available on any journey.

Payback

1) Term used in financial calculations when determining the viability of a project/operation - how long it will take to recover the investment (ie payback period) and/or the return on the investment.

Passenger miles

1) A factor of the number of passengers carried and the average length of their journey in miles.

Passenger liability

1) In terms of motor vehicle insurance, mandatory cover for passenger (except employees of the vehicle owner/operator) under the Road Traffic Act 1988.

Particular lien

1) See Lien.

Part I - V (MOT tests)

1) Various categories of annual test for goods vehicle as follows: Part 1 = first annual test; 2 = re-test when first test failed; 3 = periodical (normal) annual test; 4 = test following notifiable alteration; 5 = re-test following appeal (ie to Area Mechanical Engineer or Secretary of State for Transport).