Settlement: the last to pay (6)
I believe the answer is:
colony
'settlement' is the definition.
(I know that settlement can be written as colony)
I don't understand how the rest of the clue works.
Can you help me to learn more?
(Other definitions for colony that I've seen before include "Hive" , "Settler's territory" , "Community" , "Country controlled by another's settlers" , "Beavers' group" .)