Question

These are agreements where the customer hasn't paid for their merchandise and they have moved from the address we have on file.

A) Delinquent Agreements
B) Defaulted Agreements
C) Transferred Agreements
D) Address Change Agreements

Answer 1

The correct answer is B) Defaulted Agreements. A defaulted agreement refers to a situation where a customer has not paid for their merchandise and has moved from the address on file. This means that they have failed to fulfill their payment obligations, resulting in a default on the agreement.

Step-by-step explanation:

The correct answer is B) Defaulted Agreements.

A defaulted agreement refers to a situation where a customer has not paid for their merchandise and has moved from the address on file. This means that they have failed to fulfill their payment obligations, resulting in a default on the agreement.

For example, if a customer purchases a product on credit and fails to make the required payments, the agreement is considered defaulted. The customer may have changed their address without informing the company, making it difficult to enforce the payment and retrieve the merchandise.