Definition, Meaning & Synonyms
nonpayment
noun
/nɒnˈpeɪmənt/
Definition
The failure to make a required payment on a debt or obligation.
Examples
- Due to nonpayment of rent, the landlord decided to evict the tenants.
- The company faced legal action as a result of continuous nonpayment of invoices.
- She received a notice about the nonpayment of her credit card bill.
Meaning
Nonpayment refers to the situation where an individual or organization does not fulfill their financial commitment by not paying what they owe.
Synonyms
- default
- delinquency
- failure to pay
- non-fulfillment
