tender of payment
Definition
Unconditional offer to pay the exact amount to satisfy a debt, in lieu of actual payment. A tender of payment may save the tendering party from the penalty for nonpayment if the other party refuses the tender without just cause.
tender of payment is in the Banking, Commerce & Finance and Corporate, Commercial, & General Law subjects.
tender of payment appears in the definition of the following term: tender
This content can be found on the following page:
http://www.businessdictionary.com/definition/tender-of-payment.html
email to a friend print this definition cite this definition