nonremittal

A noun referring to the act of failing to meet a financial obligation, or the loss resulting from a debt not being paid.

• 🇩🇪Substantiv, das die Nichterfüllung einer finanziellen Verpflichtung oder den durch ausbleibende Zahlung entstandenen Verlust bezeichnet.

1. Failure to pay C1 formal

   The act of failing to meet a financial obligation, such as not paying a debt or bill.

   • The company faced legal action due to nonremittal of its loans.
   • Nonremittal of taxes can lead to severe penalties.
   • His nonremittal of the mortgage resulted in foreclosure.

   🇩🇪Nichtzahlung

   Synonyme: defaultdelinquencynonpayment

   Antonyme: paymentremittancesettlement

2. Financial loss from unpaid debt C1 formal

   A loss that occurs when a debt is not paid, often affecting creditors or lenders.

   • The bank reported a significant loss from nonremittal of several large loans.
   • Nonremittal of debts by customers hurt the small business's cash flow.
   • The economic downturn led to widespread nonremittal and financial instability.

   🇩🇪Finanzieller Verlust durch Nichtzahlung einer Schuld

   Synonyme: defaultdelinquencynonpayment

   Antonyme: paymentremittalrepaymentsettlement