moratorium

moratorium definition - business

moratorium

  1. Authority to delay an obligation. For example, a borrower may be legally permitted temporary suspension of payments on a loan.
  2. Suspension of some activity. For example, a zoning authority issues a moratorium on new residential building until environmental and infrastructure concerns are addressed.

The American Heritage® Dictionary of Business Terms Copyright © 2009 by Houghton Mifflin Harcourt Publishing Company. Published by Houghton Mifflin Harcourt Publishing Company. All rights reserved.

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