arrears

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Arrearage

A previously due payment that has not been made. For example, because preferred stock has guaranteed dividends, a company is legally required to pay all dividends on preferred stock before it makes any dividend payments on common stock. If the company does not do so, usually because it has become cash poor, the preferred dividends are said to be in arrearage. This is also called being in arrears.

arrears

(1) Being past due on a debt.(2) Paid at the end of the period rather than the beginning. Rent is usually paid in advance,at the beginning of the month for the coming month.Interest is usually paid in arrears,at the beginning of the month for interest accrued during the prior month.Real estate taxes are usually paid in arrears.

References in periodicals archive ?
'After the P53 million settled by Quezon City government under the MOA has been posted, all premium arrearages incurred by the affected members during reconciliation period will be fully paid,' according to Aranas.
* Step One: Payments during the First Year (Table A)--After entry of a judgment awarding support arrearages, the first year's interest applicable to the new payments is determined by using table A below.
If there is a child support arrearage in a Title IV-D case, the amount will not be reduced due to the child no longer being eligible for support pursuant to paragraph 11 above.
Arrearage can mount quickly, and many states charge interest.
During that time, the debtor will have paid a significant sum to the lender to cure the pre-bankruptcy arrearage and to maintain current payments.
When the influx of materials became too great for librarians to handle on their own, nonlibrarians with a sound base of training and skills were hired to contribute to the work processes and to help minimize arrearages. As salary levels of professional librarians increased, the possibility of hiring lower paid, but well-skilled, paraprofessionals became more attractive to library administrators, particularly in the technical services area.
Because the tenants are allowed to build up large arrearages, by the time the court requires then to pay the rent, they have spent the money.
Relative to child support, the final orders of a state to be enforced under full faith and credit are accrued arrearages. Assisting in collection of such arrearages is the Uniform Enforcement of Foreign Judgments Act (UEFJA), drafted by the National Conference of Commissioners on Uniform State Laws (NCCUSL), which establishes a procedure for judgment creditors to enforce a judgment in another state provided it has enacted the uniform act.(6) Thirty-six state legislatures have enacted one or the other of two versions of the act.
* Other indications of possible financial difficulties, including defaults on loans or similar agreements, dividend arrearages, denials of usual trade credit from suppliers, restructuring of debt, noncompliance with statutory capital requirements and the need to seek new sources or methods of financing or to dispose of substantial assets.
The net proceeds of approximately $69.7 million from this offering have been used to repurchase and retire Senior Secured Notes, to repay indebtedness under the Senior Bank Facility and to pay outstanding dividend arrearages on the Company's Preferred Shares.
Loans to borrowers in a country with protracted arrearages, as indicated by at least two of the following conditions, receive this evaluation: the country of the borrower has not paid full interest for at least six months; it has not complied with an IMF-supported or similar program and has no immediate prospects for doing so; it has not met its obligations on rescheduled debt for one year or more; or it has no definite prospect for an olderly restoration of debt service.