Definition of "Past due accounts"

Bill & Cathi Campanale real estate agent

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Bill & Cathi Campanaleelite badge icon

Keller Williams Realty Greater Nassau
Campanale Homes

Funds receivable or payable that have not been paid in a timely manner, commercial credit insurance protects an insured against declines in the value of receivables due to insolvency of a debtor. The insured may turn over to the insurer accounts that are up to 12 months past due or, by special endorsement, those that are 6 months overdue. For insurance purposes, these past due accounts will be treated as if they were accounts due from an insolvent company.

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