REDUCTION CERTIFICATE
A document signed by a lender stating the outstanding amount on a mortgage loan. Properties that are encumbered by mortgages are frequently sold before the debt is satisfied. The sale of the mortgaged property most often involves a cash sale where the existing mortgage is paid off. In some cases, however, the buyer may assume the existing loan as part of the purchase price. In this case, the parties obtain a reduction certificate from the lender specifying the exact amount of money that is due on the loan.
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Liquidity Adjustment Facility
A tool in monetary policy where banks are allowed to borrow money through repurchase agreements, and to respond to liquidity pressures. The governm ...
Data Warehousing
Electronic storage of information in a business or corporation. It should be secure, reliable and easy to retrieve and manage. It originated in 198 ...
One-Tailed Test
A statistical test where the critical area of a circulation is one-sided so that it is either less than or greater than a specific value, but not b ...
Less-than-Truckload
A shipping service that carries small loads of freight, weight between partial and full truckload. The service is being offered by many large and n ...
Original Cost
It simply refers to the total cost associated in buying an asset.
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