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What does paying in arrears mean?

Payment in arrears can refer to the practice of compensating a service provider after the terms of the agreement has been met. This use of arrears accounting indicates that payment will be made at the end of a certain period, rather than in advance.

What arrears means in law?

Arrears is defined as debt that has accumulated and that has not yet been paid upon the due date.

What is the full meaning of arrears?

What Is Arrears? Arrears is a financial and legal term that refers to the status of payments in relation to their due dates. The word is most commonly used to describe an obligation or liability that has not received payment by its due date. Therefore, the term arrears applies to an overdue payment.

What does arrearage credit mean?

What is the California Arrearage Payment Program Bill Credit? The California Arrearage Payment Program, or CAPP, is a state program to help pay customers eligible past due energy utility bills that increased during the COVID-19 pandemic.

What is the meaning of arrears ?

money that is owed and should already have been paid: rent arrears. Accounting.

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