nonremittal

Found in Anh - Anh (Wordnet)

Definition Noun 1. Loss resulting from failure of a debt to be paid : The financial loss incurred when a debt is not repaid. 2. Act of failing to meet a financial obligation : The specific instance or action of defaulting on a payment that is due. Usage and Examples The bank recorded a significant nonremittal on the business loan, impacting its quarterly results. The contract clearly outlines t...