ACCOMMODATION ENDORSEMENT
Accommodation endorsement is a kind of written agreement that came from one entity with the purpose of backing up the credit liability of another entity. This kind of insurance can be done without much consideration, and it also adds to the credibility of the creditworthiness of the entity insured. Commonly, this is done by a parent company to its subsidiary in order for the latter to borrow using the credit standing of its parent. It is similar to the guarantee given by the government to a third party’s debt.
POPULAR TERMS
Affirmative Covenant
A kind of contract or promise that requires a party to conduct some action. For example, a bond covenant which provides that the issuer must delive ...
Pure Risk
A risk where loss is the only potential outcome; there is no positive result. A pure risk is related to events that are out of control of the risk- ...
Efficiency
Performance level describing a process which uses the lowest amount of inputs to come up with the greatest amount of inputs. It is relative to usin ...
Tax Free
Goods and/or financial products that are not taxable. Having the tax free status allows an entity to save money and encourages additional spending ...
Reprice
A situation that is most often allowed for company executives or high-level employees. It permits them to trade in their options that out of the mo ...
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A Guide to Your Personal Income Tax: Avoid Awful Surprises
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A Primer on Retirement Planning
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Renovate or Move?
You have a well-furnished home with a garden full of flowers and plants. Imagine sharing your beautiful abode, which has four bedrooms, a kitchen, ...
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