Non-Payment

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Non-Payment

The non-reception of compensation for a good or service. For example, non-payment occurs if one sells a hairdryer for $10 and never receives the $10. Non-payment may result simply from theft, but most of the time the term refers to delinquency or default from a credit sale.
References in periodicals archive ?
5 transformers due to nonpayment of Rs 2,437,260, new Karachi and Kharwala from
In case of nonpayment of arrears, disconnection of the premises, arresting of the defaulters and confiscation of the property will also be done, under the new rules.
The nonpayment testing period was added to the regulations in 1996 in response to creditors' concerns that the prior facts-and-circumstances test for determining when an identifiable event had occurred was not sufficiently clear to allow them to determine when reporting was required.
Second, a cancellation for nonpayment of premium can make it difficult for an insured to obtain replacement insurance.
However, taxpayers and practitioners should note that the nonpayment testing provision constitutes only one of eight identifiable events that trigger the requirement to file Form 1099-C.
17, 2003), the Department concluded that "the premium paid by the insured to continue the policy after receipt of a notice of cancellation for nonpayment of the premium is considered paid as of the postmark date unless the cancellation notice specifies otherwise.
The total included 200,000 nonpayment cases worth 16.
While making the national pension scheme mandatory, the Social Insurance Agency did almost nothing to prevent nonpayment and subscription failure.
Political risk: Nonpayment for political reasons, such as withdrawal of previously issued import/export licenses or confiscation of goods and permits.
4) Because Louisiana law requires a lien to be filed in order to claim against a payment bond, can I lose my right to claim against a bond if I do not send a Notice of NonPayment law?
Most of these people are so stupid that they need a lawyer just to protect them from themselves--like that guy I met who had his license revoked on a DUI and was jailed for nonpayment of child support.
The amnesty program, which forgives all penalties for nonpayment of taxes, was set to expire June 5.