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English definition of “acknowledgement of debt”

acknowledgement of debt

noun [C] ( plural acknowledgements of debt) ( also acknowledgment of debt)
 
 
( abbreviation AOD) LAW
an official document in which someone states that they owe a particular amount of money to someone: When signing an acknowledgement of debt for consumed gas, the customer will be charged late payment interest until the last payment is made.
(Definition of acknowledgement of debt from the Cambridge Business English Dictionary © Cambridge University Press)
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