Late Payment


Also found in: Legal.

Late Payment

A debt service payment made after the end of a grace period. That is, a late payment may be made more than 30 days after the original due date. There may be late fees attached to late payments.

Late Payment

A payment made after the grace period stipulated in the note,usually 10-15 days.
References in periodicals archive ?
Suppliers have up to six years to make a claim for interest against late payment and are entitled to claim interest after they have stopped supplying the customer.
That's because to avoid the late payment charge they must have received your cheque and it must have been cleared by the bank - which can take four more working days.
Our late payment crisis causes the closure of an estimated 50,000 businesses a year, costing the economy PS2.
More than a quarter (27 percent) of the respondents said they are more likely to respond to a live contact regarding a late payment than even a restructuring or reduction of their debt (8 percent).
M2 EQUITYBITES-September 15, 2017-Bibby Financial Services Releases Protection Against Late Payments Guide
Government must step up efforts to ensure late payment is tackled more aggressively.
Scotland has the highest percentage of SMEs reporting late payment issues (46%), followed by Northern Ireland (39%) with England close behind (37%).
The bank had said in early June that it had kept its late payment charge at SGD60 for at least three years.
A three-member bench of the apex court headed by Chief Justice Mian Saqib Nisar heard the case filed by National Oil Refinery against fine imposed by SBP over late payments to Aramco.
A January 2015 survey conducted by Sage in found one in ten SMEs are being crippled by cash flow and two-thirds of small businesses had to wait over 60 days for late payments.
PESHAWAR -- The Pesco will waive off late payment surcharge if the defaulted Federal, Provincial Govts Departments, autonomous and Local Bodies paid their arrears and outstanding dues by June 30, said a release of the Pesco here Thursday.