MAKES REPAYMENT Meaning and
Definition
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The term "makes repayment" refers to the act of returning borrowed money or fulfilling a financial obligation by paying back the borrowed amount, plus any additional interest or fees that may have been agreed upon. It implies the action of settling a debt or loan according to the agreed terms and conditions between the lender and the borrower.
When an individual or entity makes repayment, it involves meeting the designated payment dates and amounts as agreed upon in the initial lending agreement. This can include regular installments or lump-sum payments, depending on the specific arrangement. Repayment can occur for various types of loans, such as personal loans, mortgages, student loans, or credit card debt.
Successfully making repayment not only demonstrates the borrower's commitment to honoring their financial responsibilities but also maintains the lender's confidence in their ability to meet their obligations. Failure to make repayment can result in penalties, late fees, and even damage to one's credit score. Lenders often rely on timely repayment to manage their own finances and ensure the viability of their lending activities.
Overall, "makes repayment" refers to the act of fulfilling one's financial obligations by returning borrowed money, assuring the completion of a loan or debt contract. It reflects the responsible and committed approach towards managing one's finances and maintaining a positive relationship with the lender.
Common Misspellings for MAKES REPAYMENT
- maks repayment
- makse repayment
- maked repayment
- make repaymen
- make repayment
- nakes repayment
- kakes repayment
- jakes repayment
- mzkes repayment
- mskes repayment
- mwkes repayment
- mqkes repayment
- majes repayment
- mames repayment
- males repayment
- maoes repayment
- maies repayment
- makws repayment
- makss repayment
- makds repayment
Etymology of MAKES REPAYMENT
The word "repayment" has its roots in Old French, from the verb "repayer", meaning "to pay back" or "to repay". This term can further be traced back to the Latin word "re-" (meaning "again" or "back") and "pacare" (meaning "to pacify" or "to make peaceful"). Therefore, the etymology of "makes repayment" highlights its origins in Latin and Old French languages.
