TimingAdjustment

The timing adjustment: the correction to a forward rate when its payment is moved away from the accrual-period end it naturally pays at.

For a LIBOR-style rate L0 fixing at T and naturally paying at T + tau, shifting the payment to payTime multiplies the in-arrears adjustment by (payTime - (T + tau)) / (-tau) — so a payment pulled forward to the fixing date recovers the full in-arrears adjustment, and a payment pushed further out flips its sign.