nonremittal

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

• 🇪🇸Sustantivo que denota el incumplimiento de una obligación financiera o la pérdida resultante de no pagar una deuda.

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.

   🇪🇸Incumplimiento de pago

   Sinónimos: defaultdelinquencynonpayment

   Antónimos: 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.

   🇪🇸Pérdida por impago

   Sinónimos: defaultdelinquencynonpayment

   Antónimos: paymentremittalrepaymentsettlement