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balance waiver

 

Definitions from the Web

Balance Waiver

Definition:

A balance waiver refers to an agreement between a lender and borrower that allows the borrower to waive or forgive a certain amount of outstanding debt or interest.

Parts of Speech:

  • Noun

Senses:

  1. Agreement to forgive a part of the outstanding debt or interest

Usages:

Popular:

The bank offered a balance waiver to the borrower, forgiving 50% of the interest accrued on the loan.

Local:

As part of a local government initiative, a balance waiver was provided to small businesses affected by the recent floods.

Related Products:

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