nonpayment

Found in Anh - Anh (Wordnet)

Definition Noun : The deliberate act of failing to pay money that is owed : "Nonpayment" refers to the intentional act of not paying a debt, bill, or financial obligation. Loss resulting from failure of a debt to be paid : It can also describe the financial loss incurred when a payment is not made. Act of failing to meet a financial obligation : This is the general act of defaulting on any kind...