rate n
1: a fixed ratio between two things
2: a charge, payment, or price fixed according to a ratio, scale, or standard: as
a: a charge per unit of a commodity provided by a public utility
b: a charge per unit of freight or passenger service see also joint rate
c: a unit charge or ratio used in assessing property taxes
3 a: a quantity, amount, or degree of something measured per unit of something else
b: an amount of payment or charge based on another amount; specif: the amount of premium per unit of insurance
rate vt
Merriam-Webster’s Dictionary of Law. Merriam-Webster. 1996.