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English definition of “undercharge”

undercharge

noun [C]     /ˈʌndətʃɑːdʒ/ FINANCE, COMMERCE
a request for payment that is less than the real price or value of a product or service: An electricity supplier can recover an undercharge for a maximum period of one year before the date of discovery.
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(Definition of undercharge noun from the Cambridge Business English Dictionary © Cambridge University Press)
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