Meaning of the word: Interest on arrears
Interest on arrears is charged to the debtor in case that he doesn't pay his loan in time. It is not a classic sanction, but it is the refund money. At the same time it works as the enforcement agent of the creditor. Interests on late payments are usually higher than classic loans.back to dictionary >
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Value specifies the client's ability to repay his obligations. Value is an important tool for all financial institutions. It specifies the amount of…go to the dictionary >
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