Meaning of the word deferral in English

What does deferral mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

deferral

US /dɪˈfɜːrəl/
UK /dɪˈfɜːrəl/

Noun

the act of delaying or postponing something

Example:
The student requested a deferral of his tuition payment.
The company announced a deferral of its new product launch.