nonremittance

Definitions

The failure or neglect to send money as payment.

The act of not transmitting or forwarding funds to a recipient.

Examples

The company faced severe penalties due to the nonremittance of payroll taxes by the specified deadline.

The contract explicitly states that the nonremittance of the monthly service fee will result in immediate account suspension.

Synonyms

nonpayment default failure to pay arrears delinquency nonsettlement

Antonyms

remittance payment settlement discharge of debt repayment clearance