payment-due

Vocabulary Word

Definition

'Payment due' is a term used when a certain amount of money needs to be paid before or on a determined date. Think of it like a deadline for handing in an assignment, but for money.

Examples in Different Contexts

For utility services, 'payment due' refers to the deadline for bill payments. A customer service representative might inform, 'Your payment due date for the electricity bill is the 15th of every month.'

Practice Scenarios

Business

Scenario:

Our cash flow is a bit tight this month. It might be wise to revise our debt servicing strategy.

Response:

That's a good point. We should double-check the payment due dates and prioritize our optional expenses.

Tech

Scenario:

The costs for our subscription software will soon add up, especially considering our expansion plans.

Response:

I agree. We need to consider the payment due dates for our subscriptions and perhaps find more cost-effective solutions.