Dunning: meaning, definitions and examples
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dunning
[ ˈdʌnɪŋ ]
debt collection
Dunning refers to a series of communications from a creditor to a debtor to demand payment of a debt. It typically involves reminders and requests for payment, which may escalate in tone and frequency if the debt remains unpaid. The process is commonly used in business to recover overdue invoices and can include formal notices or legal action.
Synonyms
debt collection, notification, reminder
Examples of usage
- The company started dunning the client for their overdue payment.
- After several dunning letters, they finally received a response.
- Dunning procedures can vary significantly from one company to another.
- It's important to remain professional during the dunning process.
Translations
Translations of the word "dunning" in other languages:
🇵🇹 notificação de cobrança
🇮🇳 देनदारी
🇩🇪 Mahnung
🇮🇩 penagihan
🇺🇦 попередження про заборгованість
🇵🇱 upomnienie
🇯🇵 督促状
🇫🇷 relance
🇪🇸 aviso de cobro
🇹🇷 tahsilat bildirimi
🇰🇷 청구서
🇸🇦 إشعار بالتحصيل
🇨🇿 upomínka
🇸🇰 upomienka
🇨🇳 催款通知
🇸🇮 opominjanje
🇮🇸 krafning
🇰🇿 ескерту
🇬🇪 შეტყობინება სესხის შესახებ
🇦🇿 göndərmə
🇲🇽 notificación de cobro
Etymology
The term 'dunning' has its origins in the late Middle English word 'dun,' which means to demand or insist on. It is believed to have evolved from the obsolete term 'dun', meaning to make a demand or to summon. The usage of 'dunning' as it pertains to the collection of debts can be traced back to the 17th century. Over the years, the practice of dunning in the context of commercial transactions has grown, with creditors seeking to recover debts through various communication methods. Today, dunning is recognized as a vital part of financial management for businesses, ensuring that cash flow is maintained while also navigating the delicate relationship between creditor and debtor. The persistence of dunning communications often reflects the creditor's determination to reclaim funds owed, and the effectiveness of these methods has been a subject of study in areas such as finance and consumer behavior.