Cambridge Dictionaries online Cambridge Dictionaries online

The most popular online dictionary and thesaurus for learners of English

English definition of “underpayment”

underpayment

noun [C or U]
 
 
/ˈʌndəˌpeɪmənt/
COMMERCE the act of paying someone too little for the work they do, or an occasion when this happens: Problems included underpayments to some employees.
the act of paying less than is necessary or less than the value of something, or an occasion when this happens: She received a bill for underpayment of more than $1000. Much of the surplus is the result of underpayments to past policyholders.
BANKING, FINANCE the act of making smaller payments than originally agreed when paying back a loan, or an occasion when this happens: It is important to have a loan with flexible features, which allow overpayment and underpayment. You will be charged interest and possibly surcharges on any underpayment.
→  Compare overpayment
(Definition of underpayment from the Cambridge Business English Dictionary © Cambridge University Press)
What is the pronunciation of underpayment?
Add Cambridge dictionaries to your browser to your website

Word of the Day

hyphen

the symbol -, used to join two words together, or to show that a word has been divided into two parts at the end of one line and the beginning of the next

Word of the Day

Lies, lies, lies!

by Kate Woodford,
February 25, 2015
​​​ According to sociologists (=people who study the relationships between people living in groups), we are good at lying. As a species, we have developed a remarkable ability to deceive each other (= persuade each other that something false is true). Being able to say things that are not true can help with

Read More 

snapchat verb

March 02, 2015
to send someone a message using the photomessaging application Snapchat We used to have a thing until he got a girlfriend. now

Read More