nonremittal
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 the penalties for nonremittal of the lease payments.
- A history of nonremittal can severely damage an individual's credit score.
Advanced Usage
- Legal and Financial Context: This term is primarily used in formal, legal, and financial documents, reports, or discussions concerning credit, loans, and contractual obligations. It is a more technical synonym for "default" or "non-payment."
- Distinction from Related Terms: While "nonpayment" is a general term for not paying, nonremittal often specifically implies a failure to pay a or , not merely a refusal to pay for a good or service.
Variants and Related Words
- Nonpayment (n.): A more general term for the failure to pay a sum of money that is due.
- Default (n.): The failure to fulfill an obligation, especially to repay a loan or appear in a court of law.
- Insolvency (n.): The state of being unable to pay one's debts.
Synonyms
- Default
- Failure to pay
- Nonpayment
Antonyms
- Payment
- Remittance
- Settlement
- Discharge (of a debt)
Noun
-
loss resulting from failure of a debt to be paid
-
act of failing to meet a financial obligation
Khám phá thêm
Các từ liên quan
Từ đồng nghĩa
Từ trái nghĩa
