Deferment Agreement
/dɪˈfɜrmənt əˈgrimənt/
Definitions
- (n.) A legally binding contract between parties to postpone the performance of an obligation to a later date.
The borrower signed a deferment agreement to delay loan payments during financial hardship.
Forms
- deferment agreement
- deferment agreements
Related terms
See also
Commentary
Deferment agreements often arise in loan contexts and should clearly specify the duration and conditions of the postponement to avoid ambiguity.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.