der Verzug
Translation
delay, default, arrears
Examples
Der Lieferant ist in Verzug geraten.
The supplier has defaulted.
Sie sind mit der Zahlung in Verzug.
You are in arrears with your payment.
Grammar Patterns
to be/fall in default/arrears (in Verzug sein/geraten) The company is in default on its loan.
Similar Words
Synonyms: die Verzögerung, die Verspätung, der Zahlungsrückstand (arrears)
Etymology
Related to the verb 'verziehen' (to delay). It combines 'ver-' and a root related to 'ziehen' (to pull). Conceptually, it's being 'pulled past' a due date.
Memory Tips
Often used in legal and business contexts, especially for payments. The key phrase to learn is 'in Verzug sein/geraten' (to be/fall into arrears).