A debt which has been incurred and will be paid back at some point in the future.
When you are borrowing to buy a car, some lenders recognise that the car will probably have a trade-in value at the end of the loan period. They will therefore let you repay some of the loan amount when you sell the car at the end of the loan period. That may enable you to buy a more expensive car, since your interest payments will be based on a smaller value than the full loan amount.
Payments put off to a future date or extended over a period of time. Interest will usually still accumulate during deferment.
Payment a set period of time after shipment or presentation of shipping documents, as opposed to immediately or "at sight." A distinction is drawn between a letter of credit that is available for deferred payment and one that is available for acceptance of time drafts in that no drafts are involved under a deferred payment L/C. Without accepted drafts, the beneficiary's ability to sell, or "discount," his right to payment to a lender or investor is restricted.
payment of fines and/or costs postponed to a future time; installment payments of fines and costs.
arrangement for deferred payment for goods and services
a future payment that is normally defined in a Note between the LRA and the Military Department
A proportion of the total payment that is held back for a defined period of time.
The process of putting off payment of a debt until a later time. For example, deferring payment of a student loan until youâ€(tm)ve graduated.
Alternative to payment at sight
A payment under which the total balance of principal and an amount for finance charge is put off until the future. This balance is paid by means of installments over a long period.
A type of Documentary Letter of Credit which does not require the presentation of a Bill of Exchange. Payment is made at a fixed or determinable future date.
The first payment is deferred 60, 90 or 120 days to accommodate training, deferred contract payments and/or to preserve cash flow.
A letter of credit issued for the purchase and financing of merchandise, similar to acceptance-type letter of credit, except that it requires presentation of sight drafts payable on an installment basis.
Payment put off to a future date or extended over a period of time. Watch out for skip a month offers, occasionally referred to as payment holidays. Interest still accumulates when you skip a month.
