Past Due Accounts

Definition of "Past due accounts"

Jennifer & Janice Spadea
Jennifer & Janice Spadea Jack Conway & Co.

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.

Search Real Estate Glossary

Related Real Estate Glossary terms

Related Real Estate FAQ