Zahlungsverzug

late payment

noun TSAH-loongs-fer-tsook Rare

Also means

payment default

Usage Note

Zahlungsverzug is the legal term for being behind on a payment. Under German law, a debtor in Zahlungsverzug owes interest (Verzugszinsen) and the creditor can claim costs. Triggers with or without a Mahnung.

Examples

"Bei Zahlungsverzug werden Verzugszinsen fällig."

Natural Translation

In the event of late payment, default interest becomes due.

Literal Translation

At payment-delay become delay-interests due.

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