Defective, Deferred, Deferred Billing : Business Dictionary

Defective, Deferred, Deferred Billing

Defective, Deferred, Deferred Billing :

Defective : Having faults, as a product or analysis

Deferred : Postpone, as by agreement to withhold payment until a certain date

Deferred Billing : An agreement by which the payment for the shipment for a merchandise is delayed for a predetermined period to let the receiver inspect the material or to let him record the purchase in a later accounting period to satisfy a budgetary requirement. Deferred bills are made when merchandise is shipped in advance of need as a convenience to the shipper who has no or less warehouse space.

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