The term 'PROCRASTINATOR's Promise' is a phrase used to describe the tendency of procrastinators to make promises that they will do something SOON, LATER, or next time. This phrase can be broken down into four words: SOON (4 letters), LATER (5 letters), IWILL (5 letters), and NEXTTIME (8 letters). These words represent the promises that procrastinators make, which are often not kept due to their tendency to put off tasks until LATER.