Meaning of “non-payment” in the English Dictionary

british dictionary

"non-payment" in Business English

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non-paymentnoun [ U ]

also nonpayment uk us

COMMERCE, FINANCE the fact of not paying or being paid a sum of money that is owed:

non-payment of bills/fines/rent, etc. The law banned water companies from disconnecting customers for non-payment of bills.
Consider taking out insurance against non-payment.

(Definition of “non-payment” from the Cambridge Business English Dictionary © Cambridge University Press)

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