Repayment
/rɪˈpeɪmənt/
Definitions
- (n.) The act of paying back money previously borrowed or owed.
The repayment of the loan is due in six months.
- (n.) The return of funds or assets to a lender or creditor as agreed.
Early repayment can sometimes reduce the total interest paid.
Forms
- repayments
Related terms
See also
Commentary
Use 'repayment' to refer specifically to the act or instance of paying back a debt; distinguish from 'reimbursement,' which implies compensating expenses.
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.