Definition of Deferred payment:
A loan arrangement in which the borrower is allowed to start making payments at some specified time in the future. Deferred payment arrangements are often used in retail settings where a person buys and receives an item with a commitment to begin making payments at a future date.
Temporary postponement of the payment of an outstanding bill or debt, usually involving repayment by instalments.
How to use Deferred payment in a sentence?
- The deferred payment option was mandatory as paying off the loan too soon would not be allowed so we did not make any payments this year.
- I didnt have enough money to purchase a new computer but was able to get one anyways because the store offers 6 months of deferred payment s.
- The main attraction of using credit cards revolves around the idea of deferred payment.
- You may accept a deferred payment from someone but only if you have complete trust that they will pay eventually.
Meaning of Deferred payment & Deferred payment Definition