Definition of Moratorium
Moratorium
mor·a·to·ri·um
Definition/Meaning
(noun)
postponement or temporary suspension of an activity;
e.g. Zero percent interest on a credit card does not make it a moratorium, but rather allows the user to make purchases without accruing additional cost.
(noun)
a legally authorized postponement of debt repayment;
e.g. The debt is subject to a 2-year moratorium or grace period.
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