servicing

3 definitions • 5 examples

the process of examining a machine and repairing any damaged parts:

Bryce has taken the car in for servicing.

Household electrics, plumbing, and heating need regular servicing in the same way as your car.

the act of making payments to pay back a debt:

The region's debt servicing currently accounted for $9,000 million a year.

Rental income may do no more than cover mortgage servicing and upkeep costs.

the activity of making regular payments to pay back a debt or loan, including interest:

The Treasury is keen to reduce public borrowing quickly in order to prevent servicing costs climbing further.