Commercial Debt Law and Legal Definition
According to 29 CFR 20.2 [Ttitle 29, Labor, Subtitle A, Office of the Secretary of Labor, Part 20, Federal Claims Collection, Subpart A, Disclosure of Information to Credit Reporting Agencies], the term commercial debt means “any non-tax business debt in excess of $ 100, arising from loans, loan guarantees, overpayments, fines, penalties or other causes”.
