Arrears definition: Copy, customize, and use instantly
Introduction
The term "Arrears" refers to an amount of money that is overdue and has not been paid by its due date, often relating to payments for goods, services, or debts. Arrears can occur in a variety of contexts such as rent, loans, or salary payments.
Below are various examples of how "Arrears" can be defined in different contexts. Copy the one that fits your needs, customize it, and use it in your contract.
Definition of "Arrears" in Loan Agreements
This version applies to financial and loan agreements.
"Arrears" refers to the amount of money that remains unpaid after the due date for a loan repayment, including any interest, penalties, or fees associated with overdue payments.
Definition of "Arrears" in Rent Payments
This definition applies to tenancy agreements.
"Arrears" means any unpaid rent or lease payments that are due under a rental agreement and have not been paid by the stipulated due date.
Definition of "Arrears" in Salary or Wage Payments
This version applies to employment contracts.
"Arrears" refers to unpaid wages or salary that are owed to an employee for work performed in a previous pay period, typically when a payment was delayed or missed.
Definition of "Arrears" in Child Support Payments
This definition applies to family law and child support.
"Arrears" refers to any overdue child support payments that have not been paid as per the court-ordered schedule.
Definition of "Arrears" in Tax Payments
This version applies to tax law.
"Arrears" means any unpaid taxes that remain outstanding after their due date, including any additional interest or penalties for late payment imposed by the tax authority.
Definition of "Arrears" in Utility Bills
This definition applies to service agreements for utilities.
"Arrears" refers to any unpaid utility charges, such as for electricity, water, or gas, that have not been settled by the due date under a service agreement.
Definition of "Arrears" in Mortgage Payments
This version applies to mortgage or home loan agreements.
"Arrears" refers to any outstanding mortgage payments that are due but have not been paid, often resulting in late fees or the potential for foreclosure.
Definition of "Arrears" in Pension Contributions
This definition applies to pension or retirement plans.
"Arrears" refers to the unpaid or overdue pension contributions owed by an employee or employer into a pension scheme after the due date for a contribution payment.
Definition of "Arrears" in Court-Ordered Payments
This version applies to court-mandated financial obligations.
"Arrears" means overdue payments that were ordered by a court in the context of legal obligations, such as fines, restitution, or settlement amounts, which remain unpaid beyond the due date.
Definition of "Arrears" in Subscription Fees
This definition applies to subscription-based services.
"Arrears" refers to any unpaid subscription fees for a service, such as for magazines, online platforms, or memberships, that have not been paid by their respective due date.
Definition of "Arrears" in Commercial Contracts
This version applies to business transactions and agreements.
"Arrears" refers to unpaid amounts owed by a party to a commercial contract, whether for goods, services, or other obligations, that have not been paid by the contractually specified deadline.
Definition of "Arrears" in Insurance Premiums
This definition applies to insurance contracts.
"Arrears" means any unpaid insurance premiums that are owed but remain outstanding past their due date, which may result in policy cancellation or reduced coverage.
Definition of "Arrears" in Student Loan Payments
This version applies to education-related loan agreements.
"Arrears" refers to unpaid student loan repayments that have not been made by the due date, which can lead to penalties or changes in loan terms.
Definition of "Arrears" in Cooperative Housing Fees
This definition applies to cooperative housing agreements.
"Arrears" refers to overdue payments for housing fees or maintenance charges that are due under a cooperative housing arrangement but have not been paid.
Definition of "Arrears" in Franchise Fees
This version applies to franchise agreements.
"Arrears" means any unpaid franchise fees, royalties, or other payments owed by a franchisee to the franchisor that have not been paid by their specified due date.
Definition of "Arrears" in Corporate Taxation
This version applies to corporate tax obligations.
"Arrears" refers to any unpaid corporate taxes owed by a business that remain outstanding after the tax filing deadline, along with any accumulated penalties or interest.
Definition of "Arrears" in Social Security Contributions
This definition applies to social security payments.
"Arrears" means unpaid contributions to social security programs, whether by an employer or an employee, that are overdue as of the statutory due date.
Definition of "Arrears" in Loan Interest Payments
This version applies specifically to interest payments on loans.
"Arrears" refers to any unpaid interest on loans that is overdue, resulting in additional interest charges or penalties.
Definition of "Arrears" in Alimony Payments
This definition applies to family law.
"Arrears" refers to any overdue alimony payments owed by one spouse to the other under a divorce decree or court order.
Definition of "Arrears" in Lease Agreement Obligations
This version applies to commercial or residential lease agreements.
"Arrears" refers to any unpaid rent, maintenance, or other fees due under a lease agreement that have not been paid by the required due date.
Definition of "Arrears" in Dividend Payments
This definition applies to shareholder agreements.
"Arrears" refers to any unpaid dividends owed to shareholders that remain overdue and are yet to be paid as scheduled.
Definition of "Arrears" in Insurance Claims
This version applies to insurance policies.
"Arrears" refers to the overdue or unpaid portion of an insurance claim payment that has not been paid by the agreed-upon date.
Definition of "Arrears" in Educational Fees
This definition applies to tuition or academic fees.
"Arrears" refers to any unpaid school or university fees that are past their due date, which could result in penalties or access restrictions.
Definition of "Arrears" in Supplier Invoices
This version applies to commercial and business transactions.
"Arrears" refers to unpaid amounts on supplier invoices that are overdue, resulting in interest or additional charges for late payment.
Definition of "Arrears" in Tax Refunds
This definition applies to delayed tax refunds.
"Arrears" means tax refunds that were due to a taxpayer but have not been issued within the statutory period, making them overdue.
Definition of "Arrears" in Membership Fees
This version applies to clubs, associations, or societies.
"Arrears" refers to overdue membership fees that have not been paid within the required time frame for continued participation in the club or association.
Definition of "Arrears" in Payment for Professional Services
This definition applies to service contracts.
"Arrears" refers to any unpaid fees for professional services that have not been settled by the due date, leading to possible service interruptions or legal action.
Definition of "Arrears" in Rent-to-Own Agreements
This version applies to rent-to-own contracts.
"Arrears" means overdue payments for rent-to-own agreements, where the buyer has not paid the agreed-upon installment for the purchase of goods or property.
Definition of "Arrears" in Construction Project Payments
This definition applies to construction contracts.
"Arrears" refers to unpaid progress payments due from one party to a construction project, which remain overdue and may impact project financing or timelines.
Definition of "Arrears" in Loan Default
This version applies to loan agreements in default.
"Arrears" refers to the overdue amounts in a loan that are unpaid after the agreed-upon payment dates, often leading to a breach of contract or default status.
This article contains general legal information and does not contain legal advice. Cobrief is not a law firm or a substitute for an attorney or law firm. The law is complex and changes often. For legal advice, please ask a lawyer.